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LAURION Announces Upsize of Previously Announced Non-Brokered Private Placement of Flow-Through Shares
LAURION Announces Upsize of Previously Announced Non-Brokered Private Placement of Flow-Th...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n\n\n\nLAURION Announces Upsize of Previously Announced 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, Aug. 11, 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, Aug. 11, 2020 /CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) (\"LAURION\" or the \"Corporation\") is pleased to announce that, due to strong investor demand, it has increased the maximum size of its previously-announced non-brokered private placement (the \"Private Placement\") to 5,950,783 flow-through shares (the \"FT Shares\") for gross proceeds to the Corporation of up to approximately $1,100,900.   \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, 2020 (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 Private Placement, the Corporation may pay finders' fees in the form of cash commissions. \nThe closing of the Private Placement remains subject to the approval of the TSX Venture Exchange (the \"TSXV\"). Subject to receipt of all necessary regulatory approvals, the Corporation intends to close the Private Placement on or about August 12, 2020. All securities issued pursuant to the Private Placement will be subject to, among other things, a hold period of four months and one day in accordance with applicable Canadian securities laws.\nAbout LAURION Mineral Exploration Inc. \nThe Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on ...