Lounor Exploration Inc. - Private Placement



    ROUYN-NORANDA, QC, May 7 /CNW Telbec/ - LOUNOR EXPLORATION INC. is
pleased to announce the negotiation of a private placement for a maximum
amount of CDN $500,000.

    The placement
    -------------

    $100,000 in common shares representing 833,333 common shares at a price
of $0.12 per share and each share is accompanied of one purchase warrant
allowing to subscribe to one common share of the Company at a price of $0.15
per share, valid for a period of 24 months.
    $400,000 in flow-through shares representing 3,333,333 flow-through
shares at a price of $0.12 per share and each share is accompanied of one
purchase warrant allowing to subscribe to one common share of the Company at a
price of $0.15 per share, valid for a period of 24 months.
    The securities that will be issued at the closing of this private
placement will be subject to a hold period of four months and one day from
closing. This placement is subject to the approval of the regulatory
authorities.

    Lounor Exploration Inc. is a public listed company trading on the TSX
Venture Exchange (LO) and on the Frankfurt Exchange (LE2A).

    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; Léo Patry, Investor Relations,
1-888-974-1276, (514) 951-0250, leo-patry@hotmail.com, www.lounor.com

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