Business
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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 26, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR DISSEMINATION./\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, April 26, 2019 /CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME and 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 2,000,000 flow-through shares (the \"FT Shares\") at a subscription price of $0.10 per FT Share, for aggregate gross proceeds to the Corporation of $200,000. \nEach FT Share is a common share of the Corporation issued as a \"flow-through share\" (as defined in subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\")).\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, 2019 (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, an arm's-length finder received $16,000 as a cash finder's commission and 160,000 finder's warrants. Each finder's warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.13 per share for a period of 24 months from the date hereof.\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, expi...