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Laurion Announces Closing of Non-Brokered Private Placement of Flow-Through Units
Laurion Announces Closing of Non-Brokered Private Placement of Flow-Through Units ...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n \n \n \n Laurion Announces Closing of Non-Brokered Private Placement of Flow-Through 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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\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 Dec. 31, 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 non-brokered private placement (the \"\n \n Private Placement\n \n \"), which was initially announced on\n \n December 18, 2020\n \n , consisting of an aggregate of 2,172,000 flow-through units (the \"\n \n Units\n \n \") at a subscription price of\n \n $0.25\n \n per Unit, for aggregate gross proceeds to the Corporation of\n \n $543,000\n \n .\n \n \n Each 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 Warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of\n \n $0.26\n \n per share for a period of 24 months from the date of issuance.\n \n \n The gross proceeds allocable to the FT Shares comprising the Units 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 effectiv...