Laramide Resources Ltd. Amends and Extends Credit Facility
LARAMIDE RESOURCES LTD. AMENDS AND
EXTENDS CREDIT FACILITY
TORONTO
,
March 21, 2023
/CNW/ - Laramide Resources Ltd. ("
Laramide
" or the "
Company
")
(TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that the Company and Extract
Advisors LLC acting as agent for and on behalf of the Lenders (the "
Agent
"), completed an
amendment (the "
Amendment
") to the existing term loan made by the Lenders in favour of Laramide
Resources Ltd. (the "
Term Loan
"), which includes, among other things, (i) a two year extension of
the maturity date of the Term Loan from
March 31, 2023
to
March 31, 2025
(ii) the reduction of the
outstanding facility from
USD$4,500,000
to
USD$3,500,000
with a
USD$1,000,000
repayment made
concurrent with the signing of the Amendment Agreement (iii) no prepayment of the Term Loan
before the Maturity date and (iv) the Company may request conversion of the loan at any time after
September 20, 2023
after the shares of the Company have traded on the TSX for
$1.00
on a
volume weighted basis for ten consecutive days. The conversion price remains at
$0.40
per share.
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About Laramide Resources Ltd.:
Laramide is engaged in the exploration and development of high-quality uranium assets. Its wholly
owned uranium assets are in
Australia
and
the United States
. Each of Laramide's portfolio of five
advanced uranium projects have been chosen for their production potential. Laramide's
Westmoreland
project, in
Queensland, Australia
, is one of the largest projects currently held by a
junior mining company. Its U.S. assets include
Crownpoint
/Churchrock which covers two project
areas including, a large ISR project and a former uranium mining operation; the La Jara Mesa in the
historic
Grants, New Mexico
mining district; and
La Sal
, a fully permitted, underground project in
Lisbon Valley,
Utah
.
This press release contains forward-looking statements. The actual results could differ materially
from a conclusion, forecast or projection in the forward-looking information. Certain material factors
or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected
in the forward-looking information.
SOURCE
Laramide Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/March2023/21/c8259.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
CO: Laramide Resources Ltd.
CNW 07:30e 21-MAR-23