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LAURION Announces Closing of Private Placement of Flow-Through Units
LAURION Announces Closing of Private Placement of Flow-Through Units Canada New...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n \n \n \n LAURION Announces Closing of 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.prntac{\nTEXT-ALIGN: CENTER\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. 10, 2021\n \n /CNW/ -\n \n LAURION Mineral Exploration Inc.\n \n (TSXV: LME) (OTCPINK: LMEFF)\n \n (\"LAURION\" or the \"Corporation\")\n \n is pleased to announce that it has closed its previously-announced non-brokered private placement (the \"\n \n Private Placement\n \n \") consisting of flow-through units (the \"\n \n FT Units\n \n \"). Pursuant to the Private Placement, the Corporation issued 2,664,936 FT Units at a subscription price of\n \n $0.75\n \n per FT Unit, for aggregate gross proceeds to the Corporation of approximately\n \n $2 million\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-half of 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 $0.82\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-through mining expenditures\", as defined in the Tax Act, which will be renounced with an effective date of no later than\n \n December 31, 2021\n \n (provided the subscriber deals at arm's length with the Corporation at all relevant times) to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds...