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LAURION ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
LAURION ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES ...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n \n \n \n LAURION ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES\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 \n \n \n \n \n \n Canada NewsWire\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 \n \n Nov. 2, 2023\n \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, due to strong investor demand, it has increased the maximum size of its previously-announced non-brokered private placement (the \"\n \n Private Placement\n \n \") to approximately\n \n $2.88 million\n \n , consisting of up to approximately 5,142,900 flow-through shares (the \"\n \n FT Shares\n \n \") at a price of\n \n $0.56\n \n per FT Share.\n \n \n Each FT Share will be a 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 \")). The 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\n \n December 31, 2023\n \n (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.\n \n \n In connection with the Private Placement, the Corporation may pay finders' fees in the form of cash commissions and the issuance of common shares in the capital of the Corporation.\n \n \n The closing of the Private Placement, which is anticipated to occur on or about\n \n November 3, 2023\n \n , remains subject to the approval of the TSX Venture Exchange (the \"\n \n TSXV\n \n \"). ...