TSX Venture Exchange
Trading Symbol: LSX
VANCOUVER, BC: LaSalle Exploration Corp. (“LaSalle” or the “Company”) (TSX-V: LSX) is pleased to announce it has arranged a private placement (the “Offering”), with Laurentian Bank Securities Inc. acting as advisor.
Pursuant to the Offering, the Company will issue 2,272,700 flow-through common shares (each, a “Flow-Through Share”) at a price of $0.11 per Flow-Through Share for gross proceeds of $249,997. The Flow-Through Shares issued in the Offering will be subject to a four-month resale hold period in Canada from the closing date of the Offering. Proceeds from the Offering will be used by the Company for exploration expenditures at the Radisson Property in Quebec that will qualify as “Canadian exploration expenditures” and “flow-through mining expenditures” within the meaning of the Income Tax Act (Canada) and as the funds will be expended in Quebec, they will qualify for additional deductions under the Taxation Act (Quebec).
As consideration for arranging the Placement Laurentian Bank Securities Inc. is entitled to a cash commission of 7% of the funds raised and compensation warrants equivalent to 7% of the securities issued. Each compensation warrant entitles the holder to purchase, for a period of 24 months from closing, one common share of LaSalle at $0.15 per share.
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 http://www.sedar.com and on the Company’s website at http://www.lasallecorp.com.
On behalf of the Board of Directors
LASALLE EXPLORATION CORP.
President and Chief Executive Officer
Telephone: (604) 647-3966
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been, and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available).
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.