LOUNOR EXPLORATION INC. - Private Placement



    Listing (TSXV : LO)

    ROUYN-NORANDA, QC, June 5 /CNW Telbec/ - LOUNOR EXPLORATION INC. is
pleased to announce the closing of a private placement of 460,000 $ CDN. The
private placement is for 1,440,000 flow-through shares at the price of $0.25
per share and of 625,000 common shares at a price of $0.16 per share. Each
common share is accompanied of one share purchase warrant valid for a period
of 24 months. One warrant allows the subscriber to purchase one common share
of the Company at a price of $0.20 per share.
    Canaccord Capital Corporation received a 6% commission in cash and
45,000 warrants. M. François Simard received a 4% commission in cash and
30,000 warrants. These warrants are valid for a period of 12 months. Each
Warrant allows the subscriber to purchase one (1) common share of the Company
at a price of $0.20.
    The securities issued pursuant to this private placement are subject to a
hold period of four months from closing.

    LOUNOR EXPLORATION INC. is a publicly traded company on the TSX-Venture
(TSXV-LO).

    This Press Release was prepared by LOUNOR EXPLORATION INC. and the TSX
    Venture has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.
    %SEDAR: 00008670EF




For further information:

For further information: Mr. Gilles Fiset, President, 1-800-388-8668,
(819) 797-8668, Fax: (819)797-6050

Organization Profile

Lounor Exploration Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890