Lounor announces that it has cancelled the convertible debentures
Listing (TSXV = LO Frankfurt = LE2A)
ROUYN-NORANDA, QC, Aug. 27, 2012 /CNW Telbec/ – LOUNOR EXPLORATION INC. (TSXV: LO) (Frankfurt: LE2A) is announcing that the two convertible debentures that were announced
previously (Press Releases of June 5, 2012 and of August 9, 2012) have
been cancelled and are replaced by non-convertible debentures.
The interest rate of the debenture of $50,000 remains unchanged at 3%
thus the interest rate of the debenture of $40,000 is 7% annually. The
proceeds for these debentures will be allotted to the working capital
of the Company.
About Lounor Exploration
Lounor Exploration Inc. is a Canadian-based natural resources company
with mineral holdings in Ontario and Quebec and is currently focused on
exploration in the Abitibi Greenstone Belt. The belt is found in both
provinces of Ontario and Quebec with approximately 33% in Ontario and
67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of
gold, 450,000,000 tonnes of base metal ore over the last 100 years. The
Company is headquartered in Quebec.
LOUNOR EXPLORATION INC. is a publicly traded company on the TSX-Venture (TSXV-LO) and on the
Frankfurt Exchange (LE2A).
This press release was prepared by Lounor Exploration Inc. Neither 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.
This document may contain forward-looking statements relating to
Lounor’s operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict and may be beyond
Lounor’s control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public
filling. In addition, such statements relate to the date on which they
are made. Consequently, undue reliance should not be placed on such
forward-looking statements. Lounor disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, save and
except as may be required by applicable securities laws.
SOURCE LOUNOR EXPLORATION INC.