Lafleur Minerals closes $900,000 private placement

Executive Summary

• Lafleur Minerals Inc. closed a non-brokered hard-dollar private placement for $900,000, completing a total funding round of $7,800,421.
• The funds are designated to restart gold production operations at the company's wholly owned Beacon gold mine and mill, develop the Swanson gold project, and cover general working capital.
• This financing marks a strategic transition from exploration to near-term gold production, supported by a previously completed LIFE offering ($4,695,000) and an oversubscribed flow-through offering ($2,205,421).

Key Details

• Hard-Dollar Offering Details:
  • Gross Proceeds: $900,000
  • Units Issued: 1.8 million units
  • Price per Unit: $0.50 CAD
  • Structure: Each unit consists of one common share and one common share purchase warrant.
  • Warrant Terms: Each warrant allows the purchase of one additional common share at an exercise price of $0.75 CAD.
  • Warrant Expiry: 36 months from the closing date.
  • Hold Period: Statutory hold period in Canada expiring four months and one day from closing.
• Broker/Finder Compensation:
  • Cash Commission: $63,000 (7% of aggregate gross proceeds).
  • Broker Warrants: 126,000 warrants issued.
  • Broker Warrant Terms: Exercise price equal to the offering warrant price ($0.75 CAD); exercisable for 24 months following closing.
• Total Financing Context:
  • Total Raised: $7,800,421.
  • LIFE Offering Component: $4,695,000 (upsized amount).
  • Flow-Through Offering Component: $2,205,421 (oversubscribed amount).
• Use of Proceeds:
  • Commissioning and restart of gold production at the Beacon gold mine and mill.
  • Work at the Swanson gold project in Val d'Or, Quebec.
  • General working capital.
• Operational Updates:
  • Preliminary Economic Assessment (PEA) for the Swanson gold project is nearing completion, outlining a study for sourcing material from Swanson to process at the Beacon mill.
  • Beacon gold mill is fully refurbished, permitted, and capable of processing over 750 tonnes per day.
  • Swanson gold project covers approximately 18,304 hectares (183 square kilometres) and includes the Swanson, Bartec, and Jolin gold deposits.

Notable Quotes

• "This milestone is a strategic inflection point for Lafleur as the company transitions from exploration to near-term gold production and value creation, providing strong financial momentum as the company advances toward restarting gold production at its wholly owned and recently updated Beacon gold mill and as it accelerates development of its Swanson gold project in the heart of Quebec's prolific Abitibi gold belt."