Laramide Resources Closes $4.5 Million Equity Financing Listed

Laramide Resources Closes $4.5 Million

Equity Financing

Listed

(TSX:LAM; ASX:LAM)

TORONTO

,

Jan. 16, 2020

/CNW/ - Further to Laramide's press release dated

January 10, 2020

,

Laramide Resources Ltd. ("

Laramide

" or the "

Company

") is pleased to announce that the Company

has closed its non-brokered private placement (the "

Offering

"), issuing 22,500,000 units (the

"

Units

") at a price of

C$0.20

per Unit, for aggregate gross proceeds of

C$4,500,000

.

The Company plans to use the proceeds of the Offering to complete the final milestone payment of

the Churchrock acquisition and for general working capital purposes.

Each Unit consists of one common share in the capital of the Company and one share purchase

warrant (a "

Warrant

"), with each Warrant entitling the holder to purchase one additional common

share at a price of

C$0.30

for a period of 36 months from the date of closing of the Offering. In the

event that the common shares trade at a price of

C$0.60

or greater for a period of 20 consecutive

trading days at any time following the date that shareholder approval is obtained, the Company may

accelerate the expiry date of the Warrants by giving notice to the holders and, in such case, the

Warrants will expire on the 10th business day after the date on which such notice is given by the

Company.

The Common Shares and Warrants issued pursuant to the Offering are subject to a statutory four-

month hold period expiring on

May 17, 2020

. The exercise of an aggregate of 11,250,000 Warrants

shall be subject to the approval by shareholders of the Company by way of a simple majority of

votes cast in respect of such matter. The common shares issued in connection with the Offering will

be eligible to vote.

The Company paid a cash commission of 5% in finder's fees to certain parties with respect to

services provided in connection with the Offering, and an additional 200,000 common shares were

issued to eligible finders in lieu of cash commission. PowerOne Capital Markets Limited acted as a

finder in connection with a portion of the private placement.

Certain officers and directors of the Company (the "

Related Parties

") participated in the Offering for

a total of 1,775,000 Units, which participation constitutes a "related party transaction" as defined

under Multilateral Instrument 61-101 -

Protection of Minority Security Holders in Special

Transactions

("

MI 61-101

"). Such related party transaction is exempt from the formal valuation and

minority shareholder approval requirements of MI 61-101 as neither the fair market value of

securities being issued to the related parties nor the consideration being paid by the related parties

exceeded 25% of the Company's market capitalization. The participants in the Offering and the

extent of such participation were not finalized until shortly prior to the completion of the Offering.

Accordingly, it was not possible to publicly disclose details of the nature and extent of related party

participation in the Offering pursuant to a material change report filed at least 21 days prior to the

completion of the Offering.

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 Churchrock 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 Information

This release includes certain statements that may be deemed "forward-looking statements". All

statements in this release, other than statements of historical facts, that address future production,

reserve potential, exploration drilling, exploitation activities and events or developments that the

Company expects are forward-looking statements. 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 forward-looking statements. These include market prices,

exploitation and 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 statements. 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 statements, 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/January2020/16/c1930.html

%SEDAR: 00003540E

For further information:

Marc Henderson, President and Chief Executive Officer, Toronto, Canada,

+1 (416) 599 7363

CO: Laramide Resources Ltd.

CNW 17:44e 16-JAN-20