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Laurion Announces Closing of Fully-Subscribed Non-Brokered Private Placement of Units
Laurion Announces Closing of Fully-Subscribed Non-Brokered Private Placement of Units ...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n \n \n \n Laurion Announces Closing of Fully-Subscribed Non-Brokered Private Placement of Units\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Oct. 19, 2020\n \n \n \n \n \n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 19, 2020\n \n /CNW/ -\n \n Laurion Mineral Exploration Inc.\n \n (TSXV: LME) (OTCPINK: LMEFF)\n \n (\"LAURION\" or the \"Corporation\")\n \n today announced that it has closed its previously-announced non-brokered private placement (the \"\n \n Private Placement\n \n \") consisting of an aggregate of 1,556,321 units (comprised of 760,868 flow-through units (the \"\n \n FT Units\n \n \") and 795,453 non flow-through units (the \"\n \n Non-FT Units\n \n \" and collectively with the FT Units, the \"\n \n Units\n \n \")) at a subscription price of\n \n $0.23\n \n per FT Unit and a subscription price of\n \n $0.22\n \n per Non-FT Unit, for aggregate gross proceeds to the Corporation of\n \n $350,000\n \n .\n \n \n Each FT Unit consists of one common share of the Corporation issued as a \"flow-through share\" (as defined in subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n Tax Act\n \n \")) (each, a \"\n \n FT Share\n \n \") and one common share purchase warrant (each, a \"\n \n Warrant\n \n \"). Each Non-FT Unit consists of one non flow-through common share of the Corporation and one Warrant. Each Warrant (whether comprising part of a FT Unit or a Non-FT Unit) entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of\n \n $0.24\n \n per share for a period of 12 months from the date of issuance.\n \n \n The gross proceeds allocable to the FT Shares comprising the FT Units will be used for \"Canadian exploration expenses\" (within the meaning of the Tax Act), which will qualify, once renounced, as \"flow-th...