Laurion Announces Engagement of Market Maker
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TORONTO, September 3, 2019 /CNW/ - Laurion Mineral Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the "Corporation") today announced that it has, subject to regulatory approval, retained Integral Wealth Securities Limited ("Integral") to provide market-making services for the purposes of maintaining an orderly trading market and improving the liquidity of the Corporation's common shares.
The market-making service will be undertaken by Integral in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. Under the terms of their engagement, Integral will receive a monthly cash fee. Integral will not receive shares or options as compensation. The agreement will have a minimum term of 12 months. Following the 12-month anniversary of the agreement, LAURION may terminate the agreement on 30 days' notice.
The Corporation and Integral act at arm's length, and Integral has no present direct or indirect interest in the Corporation or its securities. The fee paid by the Corporation to Integral is for services only. The capital and securities required for any trades undertaken by Integral as principal will be provided by Integral.
Integral is a national, independent investment dealer that provides private and public issuers with investment banking services, institutional investors and public issuers with capital markets services and affluent individuals with wealth management services. Integral is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and can access all Canadian Stock Exchange and Alternative Trading Systems. Founded in 2003, the firm has established capabilities in market making, energy banking and private debt / equity.
"Integral is a well-established market maker in Canadian public markets and we are most pleased to have retained their services to maintain an orderly market, enhance liquidity and provide market intelligence," said Cynthia Le Sueur-Aquin, President and Chief Executive Officer of the Corporation.
About LAURION
The Corporation is a junior mineral exploration and development company listed on the TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 158,756,424 outstanding shares of which 60.8% 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 44 km2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The Ishkoday Project has a project-wide database (2008 to 2018) that includes 283 diamond drill holes totaling 40,729 m, geological mapping, ground geophysics, and 14,992 individual samples with assays and geochemical analysis. The mineralization on the 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, as evidenced in the past producing Sturgeon River Mine.
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, and management's objectives, strategies, beliefs and intentions. 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 a change in the trading price of the common shares of Laurion, 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.
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