/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT INTENDED
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NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
TORONTO, Dec. 14, 2020 /CNW/ - Laurion Mineral
Exploration Inc. (TSXV: LME) (OTCPINK:
LMEFF) ("LAURION" or the "Corporation") announces
that it has today granted an aggregate of 1,250,000 incentive stock
options ("Options") to a number of its officers and
directors. The Options are exercisable for a period of five years
at a price of $0.23 per share and
will vest over a period of two years.
Specifically, the aforementioned Options were allocated in the
following manner:
|
Name of
Optionee
|
Position with the
Corporation
|
No. of
Options
|
Vesting
|
|
Cynthia Le
Sueur-Aquin
|
President, Chief
Executive Officer and Chair
|
250,000
|
33.33% on the date of
grant; 33.33% on the first anniversary of the date of grant; and
33.34% on the second anniversary of the date of grant.
|
|
Miles
Nagamatsu
|
Chief Financial
Officer
|
250,000
|
|
Michael
Burmi
|
Director
|
250,000
|
|
John
Covello
|
Director
|
250,000
|
|
Nick
Ierfino
|
Director
|
250,000
|
Furthermore, LAURION has granted to each of John Covello and Nick
Ierfino additional Options to acquire 76,837 common shares
of the Corporation, exercisable on or before December 14, 2025 at an exercise price of
$0.23 per share, subject to vesting
requirements. These additional Options are part of a discretionary
performance bonus awarded to Mr. Covello and Mr. Ierfino in
recognition of their significant contributions to the Corporation's
capital raising initiatives.
The issuance of Options, as contemplated in this news release,
is subject to the terms of the Corporation's stock option plan and
TSX Venture Exchange ("TSXV") approval.
The Corporation also wishes to announce that since September 2020, it has received requests from
certain of its security holders to exercise finder's warrants and
stock options for aggregate proceeds of approximately $91,650. The Corporation intends to use the
proceeds from these security exercises for exploration activities
and general working capital purposes.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development
company listed on the TSXV under the symbol LME and on the OTCPINK
under the symbol LMEFF. The Corporation currently has 199,723,430
outstanding shares, of which approximately 71% of LAURION's issued
and outstanding shares are owned and controlled by Insiders who are
eligible investors under the "Friends and Family" categories.
LAURION's emphasis is on the development of its flagship
project, the 100% owned mid-stage 47 km2 Ishkoday
Project, and its gold-silver and gold-rich polymetallic
mineralization with a significant upside potential. The
mineralization on Ishkoday is open at depth beyond the current
core-drilling limit of -200 m from
surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon
River Mine. The recently acquired Brenbar Property, which is
contiguous with the Ishkoday Property, hosts the historic Brenbar
Mine and LAURION believes the mineralization to be a direct
extension of mineralization from the Ishkoday Property.
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 issuance of Options and the use of proceeds from
the above-mentioned exercises of securities. The forward-looking
statements involve risks and uncertainties. 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 the interpretation and
actual results of current exploration activities, the TSXV not
providing its approval for the granting of Options, 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.