Lafleur Minerals closes $553,281 private placement

Executive Summary

• Lafleur Minerals Inc. has closed a non-brokered private placement of units, raising gross proceeds of $553,281.12.
• The company issued 1,152,669 units at a price of $0.48 per unit, with each unit comprising one common share and one transferable warrant.
• Proceeds are designated for exploration at the Swanson gold project, operations at the Beacon gold mill, and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement of units.
• Price: $0.48 per unit.
• Gross Proceeds: $553,281.12.
• Quantity Issued: 1,152,669 units.
• Warrant Terms:
  • Each unit includes one transferable common share purchase warrant.
  • Exercise Price: $0.75 per share.
  • Term: 24 months from issuance.
  • Accelerated Expiry: Warrants expire early if the common share closing price on the Canadian Securities Exchange is equal to or above $0.90 for 14 consecutive trading days, with 30 business days' notice from the company.
• Fees: No finders' fees were paid.
• Restrictions: Securities are subject to a statutory hold period of four months plus one day, expiring on January 19, 2026.
• Use of Proceeds:
  • Advancement of exploration initiatives at the Swanson gold project.
  • Operational purposes at the Beacon gold mill.
  • Working capital and general corporate expenses.