Business
LAURION Announces Upsize of Previously Announced Private Placement of Units
LAURION Announces Upsize of Previously Announced Private Placement of Units Can...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n \n \n \n LAURION Announces Upsize of Previously Announced Private Placement of 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 \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 March 9, 2021\n \n /CNW/ -\n \n LAURION Mineral Exploration Inc.\n \n (TSXV: LME) (OTC-PINK: 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 \"\n \n Private Placement\n \n \") to approximately\n \n $1.62 million\n \n , consisting of up to approximately: (i) 6,386,348 flow-through units (the \"\n \n FT Units\n \n \") at a price of\n \n $0.23\n \n per FT Unit; and (ii) 681,819 non flow-through units (the \"\n \n Non-FT Units\n \n \") at a price of\n \n $0.22\n \n per Non-FT Unit.\n \n \n Each 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\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 Series A common share purchase warrant (each, a \"\n \n Series A Warrant\n \n \"). Each Non-FT Unit will consist of one non flow-through common share of the Corporation and one Series B common share purchase warrant (each, a \"\n \n Series B Warrant\n \n \" and together with the Series A Warrants, the \"\n \n Warrants\n \n \"). Each Warrant will be exercisable for one non flow-through common share of the Corporation for a period of 12 months from the date of issuance. Each Series A Warrant will be exercisable for a price of\n \n $0.25\n \n per share, and each Series B Warrant will be exercisable for a price of\n \n $0.24\n \n per share.\n \n \n The gross proceeds allocable to the FT Shares comprising the FT Units will be used for \"Canadian exploration expense...