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LaFleur Minerals Inc. Announces Completion of First Tranche of Private Placement
VANCOUVER, BC – January 24, 2025
Lafleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF) (the “Company”) announces that, further to its news release on December 11, 2024, it has completed the first tranche of a non-brokered private placement and issued 583,399 units of the Company (the “Units”) at a price of $0.30 per Unit, generating gross proceeds of $175,019.70 (the “Offering”).
The Company plans to complete a second tranche of the Offering with the goal of raising up to $1.5 million.
Details of the Offering
- Unit Composition:
Each Unit consists of:- One (1) common share in the capital of the Company (a “Share”).
- One (1) Share purchase warrant (a “Warrant”).
- Warrant Terms:
Each Warrant entitles the holder to acquire one additional Share (a “Warrant Share”) at a price of $0.55 per Warrant Share for a period of two (2) years from the Closing Date.- Accelerated Expiry: The Warrants are subject to accelerated expiry upon thirty (30) business days’ notice from the Company if the closing price of the Shares on the Canadian Securities Exchange equals or exceeds $0.65 for ten (10) consecutive trading days any time after four (4) months following the Closing Date.
- Use of Proceeds:
The net proceeds of the Offering will be used for:- Advancement of the Company’s mineral properties.
- General working capital purposes.
- Hold Period:
The securities issued under the Offering are subject to a statutory hold period in Canada, expiring four (4) months and one day from the Closing Date.
Regulatory Disclosure
The securities issued pursuant to the Offering:
- Have not been, nor will they be, registered under the United States Securities Act of 1933, as amended.
- May not be offered or sold within the United States or to U.S. persons without U.S. registration or an applicable exemption from U.S. registration requirements.
This news release does not constitute an offer to sell or solicitation of an offer to buy the securities in the United States or any jurisdiction where such actions would be unlawful.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF) focuses on developing district-scale gold projects in the Abitibi Gold Belt near Val-d'Or, Québec.
Key Projects
- Swanson Gold Project
- Size: Over 15,000 hectares (150 km²).
- Includes several gold- and critical-metal-rich prospects previously held by:
- Monarch Mining
- Abcourt Mines
- Globex Mining
- Strategic Location:
- Consolidated land package along a major structural break.
- Hosts the Swanson, Bartec, and Jolin gold deposits.
- Rail line runs through the property, providing direct access to nearby gold mills.
- Beacon Gold Mill
- Processing Capacity: Over 750 tonnes per day.
- Potential Uses:
- Processing mineralized material from the Swanson Gold Project.
- Custom milling operations for other nearby gold projects.
Contact Information
Paul Ténière, P.Geo.
Chief Executive Officer
Email: info@lafleurminerals.com
Address:
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains forward-looking statements. These statements are not historical facts but address events or developments the Company expects to occur, including:
- Use of proceeds from the Offering.
Key Risks
Forward-looking statements are based on management’s beliefs, estimates, and opinions on the date they are made. However, actual results may differ due to factors such as:
- Market prices.
- Continued availability of capital and financing.
- General economic, market, or business conditions.
Investors are cautioned that forward-looking statements are not guarantees of future performance. The Company assumes no obligation to update these statements unless required by law.
LEGAL_45733406.1
ON BEHALF OF LAFLEUR MINERALS INC.
Paul Ténière, P.Geo.
