LaSalle Arranges $1,600,000 Private Placement
Vancouver, July 13, 2021 - LaSalle Exploration Corp. (TSXV: LSX) ("LaSalle" or the "Company") is pleased to announce it has arranged a private placement (the "Offering") to raise a total of up to $1,600,000 through the sale of $0.16 units, 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. A total of $1,000,000 of the placement is being arranged with Crescat Portfolio Management LLC, of Denver Colorado ("Crescat"). Crescat has required that $500,000 of their investment be directed to the Company's Egan property in Ontario. The balance of the financing will be applied to 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.
As announced May 17, 2021, LaSalle's work on the Egan property has resulted in the discovery of high-grade gold in individual grab samples grading 26.9 g/t and 15.7 g/t gold on the E3 Zone located approximately 3 kilometres south of the E1 Zone which has also exhibited high grade gold in grab samples. Egan is strategically located central to three actively producing gold mining camps of Timmins, Kirkland Lake and Matachewan, which collectively have produced greater than 115M oz gold. Mapping and prospecting is underway, with a LiDAR and close spaced airborne magnetic survey recently completed.
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. The company's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives and includes Global Macro, Long/Short, Large Cap and Precious Metals funds.
The Offering remains subject to TSX Venture Exchange acceptance.
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
"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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