TORONTO, Nov. 14, 2023 /CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to provide an update on its corporate activities and strategic objectives.

LAURION's primary focus is to identify and explore opportunities to maximize shareholder value while simultaneously embracing and considering the principles and best practices of environmental, social and corporate governance (ESG) issues. A significant part of this objective revolves around the Corporation's continued efforts to advance its flagship Ishkoday Project. A consequence of LAURION's success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors.

Accordingly, on August 24, 2023, the Corporation announced the establishment of a Special Committee for the purpose of exploring opportunities and potential transactions that may be strategically beneficial to the Corporation and its stakeholders. As part of this announcement, the Corporation also announced its payment of a financial advisory fee to US Capital Global Partners LLC ("US Capital Global") in the amount of US$250,000, in order to assist with this strategic review process. Since the announcement, US Capital Global has progressed to the latter stages of its due diligence review process. LAURION remains confident that US Capital Global is well-positioned to help identify and if deemed appropriate by the Special Committee, unlock, potential strategic alternatives and transactional opportunities for the Corporation.

Against the backdrop of its recently completed, over-subscribed private placement of flow-through shares, LAURION continues to be well-positioned to advance the Ishkoday Project. The use of proceeds from the financing, which amount to approximately $2.88 million, will include activities that will support the preparation of a new technical report for the Ishkoday Project. The new technical report is expected to be completed in 2024 and in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). As stated in LAURION's news release dated September 27, 2022, the Corporation's Board of Directors believes that a new NI 43-101 technical report could serve as a cornerstone disclosure document that may potentially unlock, facilitate and support a prospective strategic transaction, while also consolidating all of the scientific and technical information regarding the Ishkoday Project since April 23, 2013 (which is the effective date of LAURION's latest NI 43-101 technical report).

LAURION is committed to enhancing shareholder value and is looking at a variety of opportunities. The Corporation remains open to pursuing an acquisition or other significant transaction if it would be in the best interests of LAURION and its stakeholders. The Corporation's Board of Directors and management team remain dedicated to capitalizing on opportunities for all stakeholders. The Corporation will promptly issue a news release when any material change occurs. 

About LAURION Mineral Exploration Inc. 

The Corporation is a junior mineral exploration and development company listed on the TSX Venture Exchange under the symbol LME and on the OTC under the symbol LMEFF. LAURION now has 263,346,102 outstanding shares of which approximately 80% are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

LAURION's emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km2 Ishkoday Project, and its gold-rich polymetallic mineralization.

Follow us on Twitter: @LAURION_LME

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to LAURION's business, operations and condition, management's objectives, strategies, beliefs and intentions, the Corporation's ability to advance the Ishkoday Project, any potential acquisitions, mergers, financings or other transactions referenced herein, the Corporation's ability to complete a new NI 43-101 technical report, the nature and content of any such report, and the anticipated timing of any such report, and the use of proceeds from the above-mentioned  private placement. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSX Venture Exchange not providing its approval for the above-mentioned  private placement, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation's publicly filed documents. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

SOURCE Laurion Mineral Exploration Inc.

Copyright 2023 Canada NewsWire

Laurion Mineral Explorat... (TSXV:LME)
Historical Stock Chart
From Jan 2024 to Feb 2024 Click Here for more Laurion Mineral Explorat... Charts.
Laurion Mineral Explorat... (TSXV:LME)
Historical Stock Chart
From Feb 2023 to Feb 2024 Click Here for more Laurion Mineral Explorat... Charts.