On April 12, 2024, Laurion Mineral Exploration Inc. (TSXV: LME and OTCPINK: LMEFF) (\u201cLaurion\u201d) completed a non-brokered private placement, pursuant to which Laurion issued an aggregate of 3,725,633 flow-through shares (the \u201cFT Shares\u201d) at a subscription price of $0.45 per share for aggregate gross proceeds of $1,676,535.<\/p>\n
Each FT Share is a common share of Laurion issued as a \u201cflow-through share\u201d (as defined in subsection 66(15) of the Income Tax Act<\/em> (Canada) (the \u201cTax Act\u201d)). The gross proceeds of the Private Placement will be used for \u201cCanadian exploration expenses\u201d (within the meaning of the Tax Act), which will qualify, once renounced, as \u201cflow-through mining expenditures\u201d, as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2024.<\/p>\n Laurion is a junior mineral exploration and development company listed on the TSX Venture Exchange. Its chief emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57.43 km2<\/sup> Ishkoday Project, and its gold-rich polymetallic mineralization.<\/p>\n Miller Thomson advised Laurion on the transaction with a team comprising of Jonathan Tong (Capital Markets & Securities, Mining) and Lesley Kim (Tax), as well as securities clerk, Anca Nitu, and articling student, Eugene Yeung.<\/p>\n","protected":false},"author":92,"template":"","class_list":["post-4077","deals-cases","type-deals-cases","status-publish","hentry"],"acf":[],"yoast_head":"\n