CanAlaska Announces Closing of $9,996,000 Bought Deal Private Placement of Flow- Through Shares
CanAlaska Announces Closing of $9,996,000
Bought Deal Private Placement of Flow-
Through Shares
Saskatoon, Saskatchewan--(Newsfile Corp. - December 12, 2024) -
CanadaCanAlaska Uranium Ltd.
(TSXV: CVV)
(OTCQX: CVVUF) (FSE:
DH7)
("
CanAlaska
" or the "
Company
") is pleased to
announce that further to its news release dated December 2, 2024, it has now completed its "bought
deal" private placement (the "
Offering
") of 8,400,000 common shares that qualify as "flow-through
shares" (within the meaning of subsection 66(15) of the Tax Act (defined below)) (the "
FT Shares
") at a
price of $1.19 per FT Share for gross proceeds of $9,996,000.
The Offering was led by Cormark Securities Inc., as lead underwriter and sole bookrunner, and included
Desjardins Capital Markets (the "
Underwriters
"). In consideration for the services provided by the
Underwriters in connection with the Offering, the Company paid the Underwriters a cash commission
totalling $599,760.
The FT Shares were sold and issued pursuant to the listed issuer financing exemption under Part 5A of
National Instrument 45-106 –
Prospectus Exemptions
and consequently, the FT Shares are not be
subject to a hold period in Canada pursuant to applicable Canadian securities laws.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of
the FT Shares, pursuant to the provisions in the
Income Tax Act
(Canada) (the "
Tax Act
"), to incur (or
be deemed to incur) eligible "Canadian exploration expenses" that qualify as "flow-through critical
mineral mining expenditures" (as both terms are defined in the Tax Act) related to the Company's
projects in Saskatchewan (the "
Qualifying Expenditures
"), on or before December 31, 2025, and will
renounce all of the Qualifying Expenditures in favour of the subscribers of the FT Shares effective
December 31, 2024.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful. The FT Shares have not been and will not be registered under the
United States
Securities Act
of 1933
, as amended (the "
1933 Act
") or any state securities laws and may not be offered or sold within
the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act
and applicable state securities laws, or an exemption from such registration requirements is available.
"United States" and "U.S. person" have the meaning ascribed to them in Regulation S under the 1933
Act. The Offering remains subject to final acceptance of the TSX Venture Exchange.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) is a Canadian based exploration
company and holds interest in approximately 500,000 hectares (1,235,000 acres) in Canada's
Athabasca Basin focused on exploration and discovery of high-grade unconformity uranium deposits.
The Company is actively advancing the Pike Zone discovery – a new high-grade uranium discovery on
its West McArthur Joint Venture project in the eastern Athabasca Basin.
In addition, the Company has
several other uranium-focused exploration programs. CanAlaska deploys a hybrid project generator
model, focusing on the acquisition and sale of prospective projects, while also executing exploration
programs on CanAlaska's most strategic land holdings.
The Company's extensive portfolio has attracted
international mining companies, including Cameco Corporation and Denison Mines as active partners.
CanAlaska is led by an experienced team of professionals with a proven track record of discovery.
The Company's head office is in Saskatoon, Saskatchewan, Canada with a satellite office in Vancouver,
BC, Canada.
For further information visit
www.canalaska.com
.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for
this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium
Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.306.668.6900
Email:
General Enquiry
Tel: +1.306.668.6915
Email:
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.
Forward-Looking information
All statements included in this press release that address activities, events or developments that the
Company expects, believes or anticipates will or may occur in the future are forward-looking
statements.
Forward-looking statements are frequently identified by such words as "may", "will",
"plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and
results. Forward-looking statements are based on the current opinions and expectations of
management.
These forward-looking statements involve numerous assumptions made by the
Company based on its experience, perception of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the circumstances. In addition, these
statements involve substantial known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other forward-looking statements will prove
inaccurate, certain of which are beyond the Company's control.
Actual events or results may differ
materially from those projected in the forward-looking statements and the Company cautions against
placing undue reliance thereon.
The Company assumes no obligation to revise or update these
forward-looking statements except as required by applicable law.
Not for distribution to United States newswire services or for dissemination in the United
States
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/233507