Business
Laurion Announces Proposed Non-Brokered Private Placement of Units
Laurion Announces Proposed Non-Brokered Private Placement of Units Canada NewsWire...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n\n\n\nLaurion Announces Proposed Non-Brokered Private Placement of Units\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, March 19, 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, March 19, 2020 /CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) (\"LAURION\" or the \"Corporation\") today announced that it is proposing to complete a flow-through and non flow-through private placement on a non-brokered basis (the \"Private Placement\"). Under the flow-through portion of the private placement, the Corporation intends to raise up to approximately $100,000 in gross proceeds by issuing up to approximately 606,061 flow-through units (the \"FT Units\"). Under the non flow-through portion of the private placement, the Corporation intends to raise up to approximately $60,000 in gross proceeds by issuing up to approximately 363,637 non flow-through units (the \"Non-FT Units\" and collectively with the FT Units, the \"Units\"). Pursuant to the Private Placement, the Units will be issued at a price of $0.165 per Unit.\nEach FT Unit will consist of one common share of the Corporation to be issued as a \"flow-through share\" (as defined in subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\")) (each, a \"FT Share\") and one common share purchase warrant (each, a \"Warrant\"). Each Non-FT Unit will consist of one non flow-through common share of the Corporation and one Warrant. Each Warrant (whether comprising part of a FT Unit or a Non-FT Unit) will entitle the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.21 per share for a period of 12 months from the date of issuance.\nAs at the date hereof, the Corporation has accepted subscription agreements for the Private Placement in aggregate gross proceeds of $118,000. \nThe gross proceeds allocable to the FT Shares comprising the FT Units will be used for \"Canadian exploration...