TORONTO, Jan. 15, 2013 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is announcing that, as required by the policies of the TSX Venture Exchange (the "TSX-V"), it has amended the option agreements (the "Original Option Agreements") between the Corporation and each of its directors (the "Directors") pertaining to the stock options (the "Options") that were granted to the Directors on December 31, 2012.
As disclosed in a press release dated December 31, 2012, Laurion's Compensation Committee issued an aggregate of 3,130,000 Options to the Directors as compensation for their respective contributions to Laurion during fiscal 2012. Pursuant to the Original Option Agreements, each Option has a ten year term and an exercise price of $0.05 per common share of Laurion (each, a "Common Share"). One-third of the Options will vest immediately, one-third of the Options will vest on the first anniversary of their date of grant and the remaining one-third of the Options will vest on the second anniversary of their date of grant.
In summary, the announcement herein contemplates that the Original Option Agreements have been amended to provide that the exercise price of each Option was increased to $0.10 per Common Share.
About Laurion Mineral Exploration Inc.
Laurion Mineral Exploration Inc. is a junior mining company focusing on the upside of its 100%-owned Sturgeon River property, a high impact project with a primary focus on gold and secondary focus in base metals.
With proven ability to develop early stage projects and create shareholder value by monetizing its discoveries and assets, Laurion has realized a total of $6.35 million in the last two years from monetization of its assets. The Corporation's current focus is on resource development at Sturgeon River, located in Beardmore, Ontario, approximately 220 km northeast of Thunder Bay.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes certain forward-looking statements concerning the future performance of Laurion's business, operations and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing. Actual events or results may differ materially from those projected in the forward-looking statements and Laurion cautions against placing undue reliance thereon. Laurion and its management assume no obligation to revise or update these forward looking statements except as required by law.
SOURCE: Laurion Mineral Exploration Inc.
For further information:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President