anaconda mining stock price

LAURION Announces Closing of Private Placement of Flow-Through Units

Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce that it has closed its previously-announced non-brokered private placement (the " Private Placement ") consisting of flow-through units (the " FT Units "). Pursuant to the Private Placement, the Corporation issued 2,664,936 FT Units at a subscription price of $0.75 per FT Unit, for aggregate gross proceeds to the Corporation of approximately $2 million .

Each FT Unit consists of one common share of the Corporation 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-half of one common share purchase warrant (each, a " Warrant "). Each Warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.82 per share for a period of 12 months from the date of issuance.

The gross proceeds allocable to the FT Shares comprising the FT Units 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, 2021 (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 which are allocable to the FT Shares.

In connection with the Private Placement, certain arm's-length finders received an aggregate of $77,810.06 as a cash finder's commission and an aggregate of 33,333 finder's warrants having the same attributes as the Warrants.

Pursuant to applicable Canadian securities laws, all securities issued pursuant to the Private Placement are subject to a hold period of four months and one day, expiring on April 9, 2022 . The Private Placement remains subject to the final approval of the TSX Venture Exchange (the " TSXV ").

About Laurion Mineral Exploration Inc.

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. The Corporation currently has 245,230,289 outstanding shares, of which approximately 81% of LAURION's issued and outstanding shares are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

LAURION's emphasis is on the development of its flagship project, the 100% owned mid-stage 47 km 2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The Brenbar Property, which was acquired in 2020 and is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine. LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.

Website: https://www.LAURION .ca

Follow us on Twitter: @LAURION_LME

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to LAURION's business, operations and condition, management's objectives, strategies, beliefs and intentions, the use of proceeds from the Private Placement. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSXV not providing its final approval for the Private Placement, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation's publicly filed documents. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

SOURCE Laurion Mineral Exploration Inc.

View original content: https://www.newswire.ca/en/releases/archive/December2021/10/c9495.html

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Stacks of gold bars overlaid with upward arrow and financial data charts, background text reads various dollar amounts.

Brien Lundin: Rising Debt and Currency Risks Could Drive Gold Higher

Brien Lundin says rising government debt and weaker currencies could help keep gold prices high over the long term, even as the market faces short-term ups and downs.Speaking at the New Orleans Investment Conference, Lundin, the editor of Gold Newsletter, said that although gold and silver have... Keep Reading...
Craig Hemke, gold and silver bars.

Craig Hemke: Gold, Silver — Stack on Weakness, "Ultimate Game Changer" Ahead

Craig Hemke, publisher of TFMetalsReport.com, shares his perspective on recent declines in gold and silver, saying that while prices can still go lower, ultimately the math will work out in favor of precious metals and send them to much higher levels. "Gold's just gold. It just sits there.... Keep Reading...
Tavi Costa: Gold Price Takes a Hit — 3 Reasons Why, What's Next

Tavi Costa: Gold Price Takes a Hit — 3 Reasons Why, What's Next

Tavi Costa, CEO of Azuria Capital, weighs in on recent price declines in gold and silver, emphasizing that bottoming is a process that won't happen immediately. In his view, that setup makes the metals more appealing than copper, which has held onto its gains. "I think that the catch-up trade... Keep Reading...
Dana Samuelson, silver bars.

Dana Samuelson: Gold, Silver Prices Drop — Next Support Levels to Watch

Last week silver and gold fell below US$50 per ounce and US$4,000 per ounce, respectively, and Dana Samuelson president of American Gold Exchange, believes the bottom may not yet be in. Speaking a day before those declines, he said lower prices are an economic signal to watch. Don't forget to... Keep Reading...
Prince Silver CEO Derek Iwanaka.

Prince Silver: Maiden Resource Estimate in 2027, Manganese Upside

In an interview with the Investing News Network at the New Orleans Investment Conference, Prince Silver (CSE:PRNC,OTCQX:PRNCF) CEO Derek Iwanaka said the company is targeting a maiden resource estimate for its flagship Prince silver project in Nevada, scheduled for early 2027. He also discussed... Keep Reading...
US flag over gold bars, red descending line and green stock market numbers.

Peter Schiff: Gold’s Slide Rests on Bet the Fed Can’t Deliver

The gold price fell to a one year low on Friday (October 30) as a drop in tech stocks pressured precious metals. According to Reuters, falling tech stocks may have prompted investors to sell gold to cover losses elsewhere in the market. Commerzbank (ETR:CBK) analysts suggested precious metals... Keep Reading...

Interactive Chart

Latest Press Releases

Related News