Laurion Announces First Tranche Closing Of Private Placement Of Flow-Through Units And Non Flow-Through Shares

About this update from Laurion Mineral Exploration Inc.

(via TheNewswire) TORONTO, ONTARIO (June 12, 2026) – TheNewswire - LAURION Mineral Exploration Inc. (TSX.V: LME|OTC: LMEFF|FSE: 5YD) (“LAURION” or the “Corporation”) is pleased to announce that it has closed the first tranche of its previously-announced non-brokered private placement (the “Private Placement”) consisting of flow-through units (the “FT Units”) and non flow-through common shares (the “Non-FT Shares”) of the Corporation. Pursuant to the first tranche of the Private Placement, the Corporation issued 3,576,946 FT Units at a subscription price of $0.26 per FT Unit, for aggregate gross proceeds to the Corporation of approximately $930,006. Each FT Unit consists of one common share of the Corporation (each, a “FT Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Non-FT Share at a price of $0.35 per share for a period of 24 months from the date of issuance. The FT Shares and Warrants comprising the FT Units qualify as “flow-through shares”, as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). The gross proceeds of the Private Placement 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, 2026 (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 raised from the issue of the FT Units. LAURION intends to allocate the gross proceeds from the issue of FT Units to advance the Corporation’s 2026 drill program on the Ishkõday property. “As LAURION's largest shareholder, I believe that closing this financing reflects the continued confidence of our investor community in our technical program and capital discipline,” said Cynthia Le Sueur-Aquin, President and CEO.  “With drill crews on the ground at Ishkōday, every dollar raised goes directly toward building the geological value that our investors and I are equally committed to advancing.” In connection with the first tranche of the Private Placement, certain arm’s-length finders received an aggregate of $61,600.43 as a cash finder’s commission and an aggregate of 236...

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