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TORONTO, March 13, 2018 (GLOBE NEWSWIRE) -- Laurion Mineral Exploration Inc.
(TSX-V:LME) (OTCPINK:LMEFF) (“Laurion” or the “Corporation”) today announced that it is
proposing to complete a non-brokered private placement (the “Private Placement”) of up to
approximately 5,000,000 units (“Units”) at a subscription price of $0.05 per Unit for aggregate gross proceeds to
the Corporation of up to approximately $250,000. Each Unit is composed of one common share (each, a “Common
Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the
holder to purchase one additional Common Share at an exercise price of $0.07 for a period of 24 months following the date of issue,
subject to customary adjustment provisions.
As at the date hereof, the Corporation has accepted subscription agreements for the Private Placement in
aggregate gross proceeds of $187,000.
Laurion intends to use the net proceeds of the Private Placement for exploration activities and general working
capital purposes. The Corporation will not be paying any agent or broker commissions or finders’ fees in connection with the
Private Placement.
The closing of the Private Placement is subject to the final approval of the TSX Venture Exchange (the
“TSX-V”). The Corporation intends to close the Private Placement on or about March 16, 2018, subject to receipt of
all necessary regulatory approvals. All securities issued pursuant to the Private Placement will be subject to, among other things,
a hold period of four months and one day in accordance with applicable Canadian securities laws.
About Laurion
Laurion is an exploration discovery Corporation that is primarily focused on the development of its gold-rich
polymetallic resource on its Ishkoday property. The Corporation’s main project mandate is to complete the relevant economic
studies, initially working towards the processing the surface rock stockpile; and, to explore and develop the large near surface
polymetallic sulphide trends which extend over a 1 km x 3 km area (collective total strike length of 9,000 m), with the aim of
demonstrating the existence of a significant Volcanic Massive Sulphide (VMS) deposit, developing tonnage and demonstrating
continuity through the execution of multiple phases of diamond drill programs.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-705-788-9186
Fax: 1-705-805-9256
Website: http://www.laurion.ca
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 completion of the Private Placement, the anticipated timing of closing of the Private
Placement and the use of proceeds therefrom. The forward-looking statements involve risks and uncertainties. Actual events could
differ materially from those projected herein including as a result of a change in the trading price of the Common Shares, the
TSX-V not providing its final approval for the Private Placement. 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.
