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Laurion Announces Completion Of Previously-Announced Private Placement Of Flow-Through Units And Non Flow-Through Shares

Laurion closes $1m financing to fund drilling at its Ishkoday project as shares hit multi-year lows.

By The Northwire Desk — AI Analysis Jun 17, 2026 · 17:05 LME · 0.2 Laurion Mineral Exploration Inc.

Executive Summary

Laurion Mineral Exploration Inc. announced the completion of the second and final tranche of its non-brokered private placement on June 17, 2026.
The second tranche consisted of 333,333 non-flow-through common shares issued at $0.21 per share, generating approximately $70,000 in gross proceeds.
This follows the first tranche closed on June 12, 2026, which issued 3,576,946 flow-through units at $0.26 per unit for approximately $930,006 in gross proceeds.
Total gross proceeds from the offering amount to approximately $1.0 million.
Proceeds are allocated to advance the 2026 drill program on the Ishkōday property, with remaining funds directed toward exploration activities and general working capital.
Each flow-through unit includes one common share purchase warrant exercisable at $0.35 per share for 24 months.
Securities are subject to a 4-month-and-1-day hold period, with the first tranche expiring on October 13, 2026, and the second tranche on October 18, 2026.
The transaction remains subject to final TSX Venture Exchange approval.

Material Impact

The closing of this financing is an expected, incremental follow-up to the May 25, 2026 announcement and the May 27, 2026 drilling commencement.
The $1.0 million raise directly funds the announced 2026 Phase 1 drill program (~3,175 metres initially planned) and working capital, aligning with management's stated capital requirements.
The pricing ($0.26 for FT units, $0.21 for NFT shares) is slightly above the recent market trading range of $0.20, indicating reasonable terms for a private placement at these levels.
The dilutive impact is manageable relative to the ~278.7 million shares outstanding and the capital raised.
The news does not alter the fundamental exploration thesis, project stage, or valuation drivers. It is a routine execution of a previously disclosed capital raise.
No material change to the company's strategic direction, asset base, or near-term catalysts is introduced.

LME · Price

Company Overview

Laurion Mineral Exploration Inc. is a pre-revenue junior exploration company focused on its 100%-owned Ishkōday Gold and Polymetallic Project.
The project is located in the Beardmore-Geraldton/Onaman Tashota Greenstone Belt in Northern Ontario, approximately 220 km northeast of Thunder Bay.
The property covers 57 square kilometres, featuring a 6.0 km by 2.5 km structurally controlled mineralized corridor.
Geology is characterized by two mineralizing events: an early epithermal-style gold-silver-zinc-copper system and a late orogenic-style gold system.
Historical drilling totals approximately 100,000 metres, confirming a large gold-rich polymetallic system with past-producing mines (Sturgeon River and Brenbar) in the district.
The company is currently in the advanced exploration stage, with baseline studies complete and permitting underway for a surface stockpile processing initiative.

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