Business
LaFleur Minerals Announces Non-Brokered Flow-Through Private Placement for Gross Proceeds of up to C$3.0 Million
VANCOUVER, B.C. – TheNewswire – December 6, 2024, LaFleur Minerals Inc. (CSE: LFLR, OTCQB: WPNNF) (“LaFleur Minerals” or the “Company”) is pleased to announce a
About this update from Lafleur Minerals Inc.
[{"type":"text","content":"VANCOUVER, B.C. – TheNewswire – December 6, 2024, LaFleur Minerals Inc. (CSE: LFLR, OTCQB: WPNNF) (“LaFleur Minerals” or the “Company”) is pleased to announce a non-brokered private placement of up to 7,500,000 flow-through units of the Company (the “FT Units”) at a price of C$0.40 per FT Unit for gross proceeds of up to C$3,000,000 (the “Offering“). Red Cloud Securities Inc. (“Red Cloud”) will be acting as a finder for LaFleur Minerals on a “best efforts” basis under the Offering. Each FT Unit will consist of one common share of the Company to be issued as a “flow-through share” (each, a “FT Share”) within the meaning of the Income Tax Act (Canada) (the “Income Tax Act”) and the Taxation Act (Québec) (the “Québec Tax Act”) and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.55 at any time on or before that date which is 24 months after the issue date of the FT Unit. The Warrants will be subject to an accelerated expiry, whereas anytime after four (4) months following the issue date of the FT Unit that the closing price of the common shares of the Company on the Canadian Securities Exchange (the “CSE”) is equal to or above a price of C$0.65 for ten (10) consecutive trading days, the Company may file a notice to accelerate the expiry date of the Warrants to the date that is thirty (30) business days following the date of such notice. Proceeds from the sale of FT Units will be used solely for exploration programs on the Company’s mineral exploration properties, including the Swanson Gold Project, in the Abitibi Gold Belt in Québec. The gross proceeds from the issuance of the FT Shares will be used to incur resource exploration expenses which will constitute “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and \"flow through mining expenditures\" as defined in subsection 127(9) of the Income Tax Act and under section 359.1 of the Québec Tax Act (the “Qualifying Expenditures”), which will be renounced with an effective date no later than December 31, 2024 to the purchasers of the FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. In addition, with respect to Québec resident subscribers who are eligi...