Lafleur Minerals Announces Loan Agreement

Rhea-AI Summary

Lafleur Minerals announced a new loan agreement with Flowing Lithium Exploration. Under this agreement, Flowing Lithium will provide Lafleur Minerals with a $300,000 loan, bearing an annual interest rate of 10%. The loan must be repaid by June 17, 2025.

The funds will be utilized to cover general and administrative expenses.

Positive

• Secured $300,000 loan enhances liquidity.
• Interest rate of 10% is manageable and typical for small-cap companies.

Negative

• Increases debt burden with a $300,000 liability.
• Interest payments add to financial obligations.

Vancouver, British Columbia--(Newsfile Corp. - July 11, 2024) - LAFLEUR MINERALS INC. (CSE: LFLR) (OTC Pink: WPNNF) (the "Company") announces that it has entered into a loan agreement (the "Loan Agreement") with Flowing Lithium Exploration Inc. ("FLE"). Pursuant to the terms and conditions of the Loan Agreement, FLE has loaned the Company $300,000, which bears interest at a rate of 10% per annum and must be repaid by the Company on June 17, 2025. The proceeds of the loan are to be used for general and administrative purposes.

About LaFleur Minerals Inc.:

LaFleur Minerals Inc. is a North American junior mining exploration company that specializes in lithium and owns 100% of two lithium properties which properties are located in the James Bay and Mazérac regions, covering approximately 303 km². The Vieux Comptoir property is located approximately 45km east of the Patriot Battery Metals Corvette Project and 45km west of Winsome Resources, Adina project and I s under Option to Superior Mining International Corporation. See News Release dated December 7, 2022. The Mazérac property is located about 50km southwest of Val-d'Or and is located near Vision Lithium's Cadillac property and Winsome Resources' Decelles property.

ON BEHALF OF LAFLEUR MINERALS INC.

Paul Teniere
Chief Executive Officer
E: teniere@gmail.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding "Forward-Looking" Information

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216249

FAQ

What is the amount of the loan announced by Lafleur Minerals?

Lafleur Minerals announced a $300,000 loan from Flowing Lithium Exploration.

What is the interest rate on Lafleur Minerals' recent loan?

The loan bears an annual interest rate of 10%.

When does Lafleur Minerals need to repay the $300,000 loan?

The $300,000 loan must be repaid by June 17, 2025.

What is the purpose of the loan secured by Lafleur Minerals?

The loan proceeds are to be used for general and administrative purposes.

What is the stock symbol for Lafleur Minerals on OTC Pink?

The stock symbol for Lafleur Minerals on OTC Pink is WPNNF.