Important Notice
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LaFleur Minerals Inc. Announces Non-Brokered Private Placement
Vancouver, B.C. – December 6, 2024
LaFleur Minerals Inc. (CSE: LFLR, OTCQB: WPNNF) (“LaFleur Minerals” or the “Company”) is pleased to announce a non-brokered private placement of up to 7,500,000 flow-through units (FT Units) at a price of C$0.40 per FT Unit for gross proceeds of up to C$3,000,000 (the “Offering”).
Red Cloud Securities Inc. (“Red Cloud”) will act as a finder for LaFleur Minerals on a “best efforts” basis under the Offering.
Details of the FT Units
- Composition of FT Units:
Each FT Unit will include:- One common share of the Company, issued as a “flow-through share” (FT Share) under the Income Tax Act (Canada) and the Québec Tax Act.
- One common share purchase warrant (Warrant).
- Warrant Terms:
- Each Warrant allows the holder to purchase one common share (Warrant Share) at C$0.55 within 24 months of the issue date.
- Accelerated Expiry Clause: If the Company’s shares trade at C$0.65 or above on the Canadian Securities Exchange (CSE) for 10 consecutive trading days, the Company may accelerate the Warrant expiry to 30 business days from the notice date.
Use of Proceeds
The proceeds will fund exploration programs on the Company’s mineral exploration properties, including the Swanson Gold Project in the Abitibi Gold Belt, Québec. Specifically:
- Funds will be allocated to resource exploration expenses, classified as:
- Canadian exploration expenses (CEE) under subsection 66.1(6) of the Income Tax Act.
- Flow-through mining expenditures under subsection 127(9) of the Income Tax Act and section 359.1 of the Québec Tax Act.
- These expenses will be renounced to FT Share purchasers effective no later than December 31, 2024.
- For Québec residents:
- Eligible expenses will qualify under the Québec exploration expenses base (section 726.4.10).
- They will also qualify under the Québec surface mining and oil & gas exploration expenses base (section 726.4.17.2).
- If Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify FT Share subscribers for any additional taxes incurred.
Regulatory Approvals and Conditions
- Closing Conditions:
The Offering is subject to approval by the CSE and other regulatory bodies. - Finder’s Fees:
Payable according to CSE policies. - Hold Period:
Securities issued will be subject to a hold period ending four months plus one day from the issue date.
Important Legal Information
This news release does not constitute an offer to sell or solicit securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933 or state securities laws and may not be offered or sold in the U.S. without proper registration or exemption.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR, OTCQB: WPNNF) focuses on developing district-scale gold projects in the Abitibi Gold Belt near Val-d'Or, Québec. Key projects include:
- Swanson Gold Project:
- Over 15,000 hectares (150 km²) with prospects for gold and critical metals.
- Easily accessible by road, with a rail line and nearby gold mills enhancing its development potential.
- Beacon Gold Mill:
- Fully refurbished and permitted for processing 1,000+ tonnes/day.
- Considered for processing material from Swanson and other custom milling operations.
The Company is advancing its exploration activities, including high-resolution airborne geophysics, detailed soil surveys, and geological mapping for drill targeting. Drilling is expected to commence within the next several months.
LaFleur is also exploring its Mazerac Lithium Property, adjacent to Power Metals’ Mazerac Lithium Property.
Contact Information
Paul Ténière, P.Geo.
Chief Executive Officer
info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Cautionary Statement Regarding Forward-Looking Information
This release contains forward-looking statements, including expectations regarding the Offering, regulatory approvals, and exploration plans. Forward-looking statements are based on reasonable assumptions but are subject to risks, including regulatory approvals, completion of the Offering, tax treatment of FT Shares, market conditions, and exploration results.
Investors should note these statements are not guarantees of future performance. For more details, please refer to the full cautionary statement included in the release.
