Laramide Resources Announces Full Conversion of Outstanding Convertible Debt
Laramide Resources Announces Full
Conversion of Outstanding Convertible Debt
TORONTO
,
March 17, 2025
/CNW/ -
Laramide Resources Ltd.
(
"Laramide"
or the
"Company"
)
(TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) a uranium mine development and exploration company
with a portfolio of globally significant projects, advises that it had received notice from Extract
Advisors LLC ("Extract") on
March 13
th
, 2025 of a decision to convert all of Extract's USD
$3.5
million
convertible debt position in Laramide. The debt was convertible at CDN
$0.40
and had a term
that would have expired on
April 1
st
, 2026.
On
March 14
th
, 2025, Boss Energy, an ASX- listed uranium producer announced that it has added to
its shareholdings in Laramide Resources, and once their arrangement is completed, will hold an
18.4% interest in Laramide. According to their ASX Announcement dated
March 13, 2025
, the
increased investment was made based on the strength of Laramide's flagship Westmoreland Project
in
Queensland
. This asset could become even more attractive if the recently elected Liberal National
Party ("LNP") Queensland Government accepts permit applications to allow uranium mining
development; an activity which was prohibited by a party policy of the Australian Labor Party ("ALP")
which held power in
Queensland
for 30 of the previous 35 years until its defeat in late October
2024. Notably, under the most recent tenure of the LNP in
Queensland
(from 2012 to 2015), a
similar policy reversal was communicated within six months of taking office.
Laramide further advises that Boss participated in the Company's
November 2023
equity raising in
Australia
and that one of the Board of Director's for Boss Energy has previously served as a Chief
Operations Officer for Laramide, including during the period when the most recent Westmoreland
PEA was completed in 2016. Laramide welcomes Boss's investment as a strong endorsement of
Westmoreland
as a Tier One uranium development asset and shares their view that the development
of
Westmoreland
seems inevitable, given the strategic importance of Australian uranium and critical
minerals to Western energy security.
In addition to the
Westmoreland
asset, where recently, a meaningful expansion to the Mineral
Resource Estimate was announced (see Laramide release
February 28, 2025
), Laramide owns
other significant late-stage development assets in
the United States
and is about to initiate greenfield
exploration in
Kazakhstan
, the world's largest primary uranium producing country.
To learn more about Laramide, please visit the Company's website at
www.laramide.com
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.
Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium
jurisdictions. The company's portfolio comprises predominantly advanced uranium projects in districts
with historical production or superior geological prospectivity. The assets have been carefully chosen
for their size and production potential, and the two large development projects are considered to be
late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic
exploration in
Kazakhstan
where the company is exploring over 5,500 km
2
of the prolific Chu-Sarysu
Basin for world class roll-front deposits which are amenable to in-situ recovery.
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 the 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 addresses 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.
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%SEDAR: 00003540E
For further information:
Marc Henderson, President and CEO, Toronto, Canada, +1 (416) 599
7363; Ann Baines, Director, Investor Relations, Toronto, Canada, +1 (647) 832-9904
CO: Laramide Resources Ltd.
CNW 12:53e 17-MAR-25