Lounor Exploration Inc. - Private Placement

Listing (TSXV = LO Frankfurt = LE2A)

Rouyn-Noranda, QC, Dec. 30 /CNW Telbec/ - LOUNOR EXPLORATION INC. is pleased to announce the closing of a private placement for a maximum amount of CDN $250,000 .

    
    The placement
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$50,000 in common shares representing 333,333 common shares at a price of $0.15 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 $0.19 per share, valid for a period of 24 months.

$200,000 in flow-through shares representing 1,333,334 flow-through shares at a price of $0.15 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 $0.19 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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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 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: Mr. Gilles Fiset, President, 1-800-388-8668, [phone], Fax: [phone]; Léo Patry, Investor Relations, 1-888-974-1276, [phone], [email protected], www.lounor.com