Laramide Resources Announces Private Placement Listed
Laramide Resources Announces Private
Placement
Listed (TSX:LAM; ASX:LAM)
TORONTO
,
Aug. 2, 2019
/CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") is
pleased to announce it has arranged a non-brokered private placement (the "Offering") of up to six
(6) million units (the "Units") of the Company at a price of
C$0.25
per Unit (the "
Issue Price
"), for
aggregate gross proceeds of up to
C$1.5 million
.
Each Unit will consist of one common share of the Company (a "
Common Share
") and one-half of
one Common Share purchase warrant (each whole Common Share warrant, a "
Warrant
"), with
each Warrant exercisable into one Common Share of the Company at a price of
$0.40
for a period
of 30 months from the Closing Date (as defined below).
The closing of the Offering is expected to occur mid-August, 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities
described herein in
the United States
. The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may not be offered or
sold in
the United States
or to the account or benefit of a U.S. person absent an exemption from the
registration requirements of such Act.
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 includes certain information that may be deemed "forward-looking information"
under applicable securities laws. All statements in this release, other than statements of historical
facts, that address future exploration or development, reserve potential, exploration activities and
events or developments that the Company expects is forward-looking information. Although the
Company believes the expectations expressed in such statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in the statements. There are certain factors that
could cause actual results to differ materially from those in the forward-looking information. These
include the results of the Company's due diligence investigations, market prices, exploration
successes, continued availability of capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the
forward-looking information. For more information on the Company, investors are encouraged to
review the Company's public filings at
www.sedar.com
. The Company disclaims any intention or
obligation to update or revise any forward- looking information, whether as a result of new
information, future events or otherwise, other than as required by law.
SOURCE
Laramide Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/August2019/02/c8654.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 17:30e 02-AUG-19