Lounor closes a $50,000 private placement
ROUYN-NORANDA, QC, Aug. 18, 2011 /CNW/ --
Listing (TSXV = LO Frankfurt = LE2A)
ROUYN-NORANDA, QC, Aug. 18, 2011 /CNW Telbec/ - LOUNOR EXPLORATION INC. (TSXV: LO) (FSE: LE2A) is pleased to announce the closing of a private
placement for the amount of CDN $50,000.
The placement consists in 200,000 common shares at a price of $0.05 per
share representing $10,000 and 800,000 flow-through shares at a price
of $0.05 per share representing $40,000. Each share is accompanied of
one half (½) of a share purchase warrant to subscribe for one common
share of the Company at a price of $0.10 per share, expiring August 18,
2013.
The securities that will be issued at the closing of this private
placement will be subject to a hold period of four months and one day
from closing. This placement is subject to the approval of the
regulatory authorities.
About Lounor Exploration
Lounor Exploration Inc. is a Canadian-based natural resources company
with mineral holdings in Ontario and Quebec and is currently focused on
exploration in the Abitibi Greenstone Belt. The belt is found in both
provinces of Ontario and Quebec with approximately 33% in Ontario and
67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of
gold, 450,000,000 tonnes of base metal ore over the last 100 years. The
Company is headquartered in Quebec.
LOUNOR EXPLORATION INC. is a publicly traded company on the TSX-Venture (TSXV-LO) and on the
Frankfurt Exchange (LE2A).
This press release was prepared by Lounor Exploration Inc. Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This document may contain forward-looking statements relating to
Lounor's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict and may be beyond
Lounor's control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public
filling. In addition, such statements relate to the date on which they
are made. Consequently, undue reliance should not be placed on such
forward-looking statements. Lounor disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, save and
except as may be required by applicable securities laws.
To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/August2011/18/c4717.html
M. Gilles Fiset, President
| Telephone : | 800-388-8668 |
| 819-797-8668 | |
| Fax : | 819-797-6050 |
Email : lounor@tlb.sympatico.ca
Web site : www.lounor.com