TSX Venture Exchange
Trading Symbol: LSX
VANCOUVER, BC: LaSalle Exploration Corp. (“LaSalle” or the “Company”) (TSX-V: LSX)) has arranged a private placement of flow-through shares to raise a total of up to $2,000,000. Flow Through Shares sold to Quebec residents (“QFT Shares”) are priced at $0.20 per share, with the proceeds from their sale used to advance the proposed drill program on the Radisson Property in Quebec. Flow-Through Shares are priced at $0.18 per share (“FT Shares”) with the proceeds going to further exploration on the Company’s Egan and Blakelock gold properties in Ontario.
Ian Campbell, President and CEO commented: “This financing allows us to lock in this season’s exploration plans for the Radisson property – in particular our first diamond drill program, designed to test several high priority gold and gold-copper targets developed to date. Furthermore, an extensive summer field program will be finalized to develop additional drill targets and initiate exploration on additional high potential under-explored areas of this large property. Proceeds will also be expended on our high-grade gold Egan and Blakelock properties to advance them to the drilling stage.”
The gross proceeds from sale of the FT Shares and QFT Shares will be used for exploration expenditures that will qualify as “Canadian exploration expenditures” and “flow-through mining expenditures” within the meaning of the Income Tax Act (Canada), with the proceeds from the QFT Shares expended exclusively on the Company’s Radisson Property in Quebec and thereby qualifying for additional deductions under the Taxation Act (Quebec).
Eventus Capital Corp. are acting as Finders on the Offering for which they will receive commissions of 6% in cash on the proceeds of the shares placed and 6% of the number of shares placed in compensation warrants exercisable for one year from closing at the same price as the respective FT and QFT Shares placed.
This placement remains subject to acceptance by the TSX Venture Exchange.
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.