Laramide Completes A$12.0 Million Placement
LARAMIDE COMPLETES A$12.0 MILLION
PLACEMENT
TORONTO
,
Nov. 15, 2023
/CNW/ - Laramide Resources Ltd. ("
Laramide
" or the "
Company
")
(TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that further to the news release
of
November 9, 2023
, the
A$12 million
placement to institutional and sophisticated investors pursuant
to s708 of the Corporations Act (Cwth) 2001 in
Australia
has completed. Funds have been received
and CDIs are being issued.
Proceeds from the Placement will be used to accelerate development projects in the
USA
, to ramp
up drilling at the companies advanced exploration assets in
Australia
during the next field season and
general working capital and transaction costs.
The Placement is comprised of the issue of 20,000,000 Chess Depositary Interests ("CDI") at an
issue price of
A$0.60
per CDI ("Offer Price"). Each new CDI issued under the placement will rank
equally with existing CDIs on issue and each CDI will represent a beneficial interest in 1 common
share of the Company. Bell Potter Securities Limited ("Bell Potter") acted as lead manager and
bookrunner to the Placement.
This announcement was authorised for release to the ASX by the Board of Laramide Resources
Ltd.
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.:
Laramide is focused on exploring and developing high-quality uranium assets in
Australia
and the
western
United States
. The company's portfolio comprises five advanced uranium projects in
districts with historical production or superior geological prospectivity. Each asset has been carefully
chosen for their size, production potential, and are considered late-stage, low-technical risk projects.
The
Westmoreland
project in
Queensland, Australia
, is one of the largest uranium development
assets held by a junior mining company. This project has a PEA that describes an economically
robust, open-pit mining project with a mine-life of 13 years. Additionally, the adjacent Murphy
Project in the Northern Territory of
Australia
is a greenfield asset that Laramide strategically
acquired to control the majority of the mineralized system along the
Westmoreland
trend.
In
the United States
, Laramide's assets include the NRC licensed Crownpoint-Churchrock Uranium
Project, which is proposed to be developed using in-situ recovery ("ISR") production methodology.
The Company also owns the La Jara Mesa project in the historic Grants mining district of
New
Mexico
and an underground project, called
La Sal
, in Lisbon Valley,
Utah
.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements".
All statements in this release, other than statements of historical facts, that address events or
developments that management of the Company expect, are forward-looking statements. Forward-
looking statements are frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential",
"possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms and similar expressions. Actual results or developments may differ
materially from those in forward-looking statements. Laramide 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.
Since forward-looking information address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not limited to, exploration
and production for uranium; delays or changes in plans with respect to exploration or development
projects or capital expenditures; the uncertainty of resource estimates; health, safety and
environmental risks; worldwide demand for uranium; uranium price and other commodity price and
exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of
acquisitions; ability to access sufficient capital from internal and external sources; and changes in
legislation, including but not limited to tax laws, royalties and environmental regulations.
SOURCE
Laramide Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/November2023/15/c9996.html
%SEDAR: 00003540E
For further information:
To learn more about Laramide, please visit the Company's website at
www.laramide.com or contact: Marc Henderson, President and CEO, Toronto, Canada
+1 (416)
599 7363; Ann Baines, Director, Investor Relations, Toronto, Canada, +1 (647) 832-9904, E:
CO: Laramide Resources Ltd.
CNW 16:00e 15-NOV-23