- Laurion Mineral Exploration (TSXV:LME) seeks to raise C$1.7 million through a flow-through private placement on a non-brokered basis
- The junior miner will use the proceeds for exploration expenses over the next 18-24 months, as it pursues numerous demonstrated expansion opportunities
- Laurion is a junior gold stock with a focus on shareholder value backed by more than 70 per cent insider ownership
- Laurion Mineral Exploration stock (TSXV:LME) has added 14.29 per cent year-over-year and 300 per cent over the past five years
Laurion Mineral Exploration (TSXV:LME) seeks to raise C$1.7 million through a flow-through private placement on a non-brokered basis.
It will issue up to 3,777,778 flow-through shares priced at C$0.45, a 12.5 per cent premium to Wednesday’s opening price of C$0.40. Flow-through shares allow investors to claim a tax deduction equal to the amount invested, while enabling miners to fund certain exploration expenditures.
The junior miner will use the proceeds for qualifying flow-through exploration expenses over the next 18-24 months, which will be renounced no later than Dec. 31, 2024, in an amount not less than what it manages to raise. To date, Laurion has secured subscription agreements for C$1.67 million.
The financing is expected to close on or about April 12. All securities issued will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws.
Is LME an attractive stock?
Based on the drill-proven prospectivity of Laurion’s 100-per-cent-owned Ishkoday project in Ontario, investing in LME stock offers exposure to considerable upside.
The sizeable 57.43-square-kilometre project features an abundantly mineralized 6 kilometres by 2.5 km corridor, including gold and base metals, backed by value-added drilling campaigns in 2023, 2022 and 2021.
Laurion is focused on adding grade and tonnage as it breaks ground in 2024 on known expansion targets, positioning it to benefit from upward price pressure from positive news flow and gold testing all-time-highs.
About Laurion Mineral Exploration
Laurion is a junior gold stock with a focus on shareholder value backed by more than 70 per cent insider ownership.
Laurion Mineral Exploration (TSXV:LME) opened with a gain of 1.27 per cent trading at C$0.40 per share. The stock has added 14.29 per cent year-over-year and 300 per cent over the past five years.
Join the discussion: Find out what everybody’s saying about this high-performing gold stock on the Laurion Mineral Exploration Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
