On March 12, 2021, LAURION Mineral Exploration Inc. (TSXV:LME; OTCPINK:LMEFF) (“LAURION”) announced the closing of its non-brokered private placement (the “Private Placement”), consisting of an aggregate of 7,068,161 units. Pursuant to the Private Placement, LAURION issued 6,386,344 flow-through units (the “FT Units”) at a subscription price of $0.23 per FT Unit and 681,817 non flow-through units (the “Non-FT Units”) at a subscription price of $0.22 per Non-FT Unit, for aggregate gross proceeds of $1.62 million. LAURION agreed to upsize the Private Placement as a result of strong investor interest and over-subscriptions.
Each FT Unit consists of one common share issued as a “flow-through share”, and one common share purchase warrant exercisable at a price of $0.25 per share. Each Non-FT Unit consists of one non flow-through common share and one common share purchase warrant exercisable at a price of $0.24 per share.
LAURION is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF.
Jonathan Tong (Capital Markets & Securities) of Miller Thomson advised LAURION on the transaction.