Laramide Resources Announces Increase to Previously Announced Private Placement to C$3.3 Million Listed
Laramide Resources Announces Increase to
Previously Announced Private Placement to
C$3.3 Million
Listed (TSX: LAM) (ASX: LAM)
TORONTO
,
June 8, 2018
/CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") is
pleased to announce it has increased the amount of the previously announced private placement (the
"Offering") from 7 million units (the "Units") up to 10 million units of the Company at a price of
C$0.30
per Unit, for aggregate gross proceeds of up to
C$3.3 million
. Other details of the Offering remain
unchanged.
Each Unit will consist of (i) one common share in the capital of the Company, (ii) one-half (1/2) of
one common share purchase warrant (each whole warrant a "Series A Warrant"), with each whole
Series A Warrant to entitle the holder to purchase one additional common share at a price of
$0.45
for a period of 36 months from the date of closing of the Offering, and (iii) one-half (1/2) of one
common share purchase warrant (each whole warrant a "Series B Warrant"), with each whole
Series B Warrant to entitle the holder to purchase one additional common share at a price of
$0.60
for a period of 36 months from the date of closing of the Offering, provided however that the Series
B Warrants shall only be exercisable if such holder has exercised the Series A Warrants within 18
months of the closing of the Offering.
The closing of the Offering is expected to occur on or about
June 19, 2018
, and is subject to the
completion of formal documentation and receipt of regulatory approval, including the approval of the
Toronto Stock Exchange and the Australian Securities Exchange.
The Units will be offered on a private placement basis and will be subject to a four-month hold
period. The Company will pay finders fees in certain cases.
The Company plans to use the proceeds of the Offering to advance exploration and development
activities primarily at
Church Rock
and
Crownpoint
uranium properties in
New Mexico, USA
and
Westmoreland
uranium project in
Australia
, and for general corporate purposes.
To learn more about Laramide, please visit the Company's website at
www.laramide.com
.
About Laramide Resources:
Laramide is a Canadian-based company with diversified uranium assets strategically positioned in
the United States
and
Australia
that have been chosen for their low-cost production potential.
Laramide's recently acquired
Church Rock
and
Crownpoint
properties form a leading In-Situ
Recovery (ISR) division that benefits from significant mineral resources and near-term development
potential. Additional U.S. assets include La Jara Mesa in
Grants, New Mexico
, and
La Sal
in the
Lisbon Valley district of
Utah
. The Company's Australian advanced stage
Westmoreland
is one of
the largest uranium projects currently held by a junior mining company. Laramide is listed on the
TSX: LAM and ASX: LAM.
Forward-looking Statements and Cautionary Language
This News Release contains forward looking statements which are subject to a variety of risks and
uncertainties which could cause actual events or results to differ materially from those reflected in
the forward looking statements. The Company does not intend to update this information and
disclaims any legal liability to the contrary.
SOURCE
Laramide Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/June2018/08/c2386.html
%SEDAR: 00003540E
For further information:
Marc Henderson, President and Chief Executive Officer, Toronto, Canada,
+1 (416) 599 7363; Bryn Jones, Chief Operating Officer, Brisbane, Australia, P: (07) 3831 3407;
Greg Ferron, Vice-President, Investor Relations, Toronto, Canada, +1 (416) 599 7363
CO: Laramide Resources Ltd.
CNW 07:29e 08-JUN-18