Listing (TSXV = LO/
ROUYN-NORANDA, QC,
The private placement was marketed on a best efforts basis by Limited Market Dealer Inc. ("LMD") to accredited investors who purchased 3,125,000 "flow-through" Units of Lounor at a price of
The remuneration of Limited Market Dealer Inc. (LMD) consists of an amount representing 5% of the placement in cash and of non transferable warrants entitling LMD to subscribe a number of 250 000 Units of the issued shares at a price of
The securities issued pursuant to this private placement are subject to a hold period of four months and a day expiring
The gross proceeds from the Flow-Through Units will be used by Lounor to incur exploration expenses on its mining properties located in Ontario and in
"We are very pleased to be entering into this relationship with MineralFields Group", said Gilles Fiset, President and CEO. "This is an important milestone in the growth of Lounor Exploration Inc. and we look forward to working with MineralFields Group as we develop our holdings in the Matheson and Chibougamau regions."
About MineralFields, Pathway and First Canadian Securities (R) --------------------------------------------------------------
MineralFields Group (a division of Pathway Asset Management), based in
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.
This document may contain forward-looking statements relating to Lounor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Lounor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Lounor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
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For further information: For further information: Mr. Gilles Fiset, President, 1-800-388-8668, (819) 797-8668, Fax: (819) 797-6050, [email protected]; Leo Patry, Investor Relations, 1-888-974-1276, (514) 951-0250, [email protected]; www.lounor.com
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