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LAURION Announces Closing of Non-Brokered Private Placement of Flow-through Shares
LAURION Announces Closing of Non-Brokered Private Placement of Flow-through Shares ...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n\n\n\nLAURION Announces Closing of Non-Brokered Private Placement of Flow-through Shares\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\nCanada NewsWire\nTORONTO, Aug. 13, 2020\n\n\n\n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n TORONTO, Aug. 13, 2020 /CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) (\"LAURION\" or the \"Corporation\") today announced that it has closed its previously-announced non-brokered private placement (the \"Private Placement\") consisting of an aggregate of 5,950,783 flow-through shares (the \"FT Shares\") at a subscription price of $0.185 per FT Share for aggregate gross proceeds to the Corporation of approximately $1,100,900. As announced on August 11, 2020, the Corporation agreed to significantly upsize the Private Placement as a result of strong investor interest and over-subscriptions.  \nThe gross proceeds will be used for \"Canadian exploration expenses\" (within the meaning of the Tax Act), which will qualify, once renounced, as \"flow-through mining expenditures\", as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2020 (provided the subscriber deals at arm's length with the Corporation at all relevant times) to the initial purchasers of FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.  \nIn connection with the closing of the Private Placement, certain arm's-length finders received an aggregate of $46,439 as a cash finder's commission. \nPursuant to applicable Canadian securities laws, all securities issued pursuant to the Private Placement are subject to a hold period of four months and one day, expiring on December 13, 2020. The Private Placement remains subject to the final approval of the TSX Venture Exchange (the \"TSX-V\"). \nAbout LAURION Mineral Exploration Inc. \nThe Corporation is a junior mineral ...