CanAlaska Completes $12 Million Private Placement Financing
CanAlaska Completes $12 Million Private
Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2023) -
CanAlaska Uranium Ltd.
(TSXV: CVV)
(
OTCQX: CVVUF) (FSE:
DH7)
("
CanAlaska
" or the "
Company
") is pleased to
announce that it has closed its fully-subscribed non-brokered private placement (the "
Offering
")
previously announced on November 20, 2023, as increased on November 21, 2023.
Under the Offering,
the Company has issued 6,944,444 non-flow-through units (the "
NFT
Units
") for gross proceeds of
$2,499,999.84, 17,406,991 flow-through units (the "
FT
Unit
") for gross proceeds of $7,397,971.20 and
3,770,456 charity flow-through units (the "
CFT Units
") for gross proceeds of $2,102,029.23, for total
gross proceeds of $12,000,000.27.
The gross proceeds received from the sale of the FT Units and the CFT Units will be used for work
programs on the Company's exploration properties.
The net proceeds received from the sale of the NFT
Units will be used for general working capital.
In connection with the Offering, the Company paid a total of $682,270.33 and issued a total of 1,584,772
warrants as finder's fees.
Each finder's warrant is exercisable for one common share at a price of
$0.425 for two years.
All securities issued under this private placement are subject to a hold period expiring April 13, 2024, in
accordance with applicable securities laws and the policies of the TSX Venture Exchange.
Certain officers and directors of the Company (the "
Insiders
") participated in the Offering and
purchased an aggregate of 209,007 FT Units.
Participation by Insiders in the private placement is
considered a "related party transaction" pursuant to Multilateral Instrument 61-101 -
Protection of
Minority Security Holders in Special Transactions
("
MI 61-101
").
The Company is exempt from the
requirements to obtain a formal valuation and minority shareholder approval in connection with the
Insiders' participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively,
on the basis that participation in the Offering by the Insiders did not exceed 25% of the fair market value
of the Company's market capitalization.
The Company did not file a material change report at least 21
days prior to the closing of the Offering as participation of the Insiders had not been confirmed at that
time.
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 of America. The securities have not been and will not be
registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons (as defined in
the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an
exemption from such registration is available.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately
350,000 hectares (865,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium."
CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is
currently working with Cameco and Denison at two of the Company's properties in the Eastern
Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's
richest uranium district. The Company also holds properties prospective for nickel, copper, and
diamonds. 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 General Enquiry
Tel: +1.604.688.3211 x 138
Email:
Tel: +1.604.688.3211
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.
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.
Readers should not place undue
reliance on forward-looking statements.
Except as required by law, the Company does not intend to
revise or update these forward-looking statements after the date hereof or revise them to reflect the
occurrence of future unanticipated events.
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/190920