Vancouver, British Columbia--(Newsfile Corp. - August 6, 2021) - LaSalle Exploration Corp. (TSXV: LSX) is pleased to announce the closing of the initial tranche of the private placement of Units announced July 13, 2021 (the "Offering"). To date a total of $1,296,000 has been raised through the issuance of 8,100,000 Units at $0.16 per Unit, each comprised of one common share and one-half common share purchase warrant, with each whole warrant being exercisable into one common share for 24 months from issuance at $0.24 per share. The shares and warrants issued in the Offering will be subject to a four-month resale hold period in Canada ending November 28th, 2021.
As announced July 13, 2021, the Company has agreed to apply $500,000 of the $1,000,000 invested by Crescat Portfolio Management LLC. on exploration of the Company's Egan Property in Ontario. The remainder of the funds will be used for exploration work on the Company's properties, and for general corporate purposes.
"We are extremely pleased to welcome Crescat as a significant new shareholder to LaSalle. This financing will provide LaSalle with the resources to escalate our exploration campaign at Egan while we continue to advance the Radisson and Blakelock properties," said Ian Campbell, President and CEO.
The Company has also granted Crescat the right to participate in any future financings in order to maintain its percentage interest in the Company as at the date of the future financing, for so long as Crescat holds at least 3% of the outstanding shares of the Company.
A finder's fee of 6% cash and 6% warrants is payable to GloRes Securities Inc., and Marco Polo Securities Inc. in respect of their assistance in placing $1,120,000 of this tranche of the Offering.
About LaSalle Exploration Corp.:
LaSalle Exploration Corp.is an exploration company focused on less explored districts of the Abitibi, recognized for mining investment based on mineral potential, policy and success, and the developing Eeyou Itschee-James Bay region in Québec. LaSalle Exploration Corp. is listed on the Toronto Venture Exchange ("TSX-V") under the symbol "LSX".
Additional information about LaSalle can be found on SEDAR at www.sedar.com and on the Company's website at www.lasallecorp.com.
Qualified Person
The technical information in this news release was reviewed and approved by Ronald Stewart, P.Geo., Vice-President, Corporate Development of LaSalle Exploration Corp., who is a non-independent qualified person for the technical disclosure as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
On behalf of the Board of Directors
LASALLE EXPLORATION CORP.
"Ian Campbell"
President and Chief Executive Officer
Telephone: (604) 647-3966
About LaSalle Exploration Corp.:
LaSalle is an exploration company focused on less explored districts of the Abitibi, recognized for mining investment based on mineral potential, policy and success, and the developing Eeyou Itschee-James Bay region in Québec. LaSalle is actively exploring Radisson as well as the Blakelock and Egan high-grade gold properties located in northeastern Ontario. LaSalle trades on the TSX Venture Exchange ("TSX-V") under the symbol "LSX". Additional information about LaSalle can be found on SEDAR at www.sedar.com and on the Company's website at www.lasallecorp.com.
Cautionary Note Regarding Forward-Looking Statements and Information
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the 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.
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