Laramide Resources Ltd. Announces Proceeds from Successful Exercise of Warrants
Laramide Resources Ltd. Announces
Proceeds from Successful Exercise of
Warrants
TORONTO
,
Jan. 17, 2023
/CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX:
LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that 17,175,000 or 100% of the
outstanding warrants to purchase common shares of the Company that expired on
January 16, 2023
with a strike price of
30 cents
, have been exercised. All cash amounts expressed in Canadian
dollars.
These receipts included a total of 1,175,000 warrants exercised by insiders, including the Chairman
and the CEO, and resulted in gross proceeds of
$5,152,500.00
to the Company. Together with the
Company's previous cash balances, and combined with securities available for sale, Laramide now
has in excess of
$10 million
in cash and securities on hand and is essentially funded through 2023, a
year that is expected to see increased exploration and development activity in alignment with the
broad-based improvement in the uranium market.
"We are very pleased that all warrant holders demonstrated their support for Laramide's business
activity with their full and complete purchase of the outstanding warrants," says
Marc Henderson
,
President and CEO, Laramide Resources Ltd. "The uranium fundamentals are far stronger than they
were when we issued the financing units, which included these warrants, in
January 2020
.
Corporately, we have responded to the positive shift in sentiment towards nuclear energy by
resuming exploration and development activities on our most advanced projects."
On
January 17, 2023
, immediately after the exercises, the Company has 225,404,696 common
shares outstanding and fully diluted shares of 233,244,696.
To learn more about Laramide, please visit the Company's website at
www.laramide.com
or
contact:
Follow us on Twitter @LaramideRes
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
Church Rock
, a large ISR project;
Crownpoint
, a
former uranium mining operation; and the La Jara Mesa in the historic
Grants, New Mexico
mining
district.
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.
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http://www.newswire.ca/en/releases/archive/January2023/17/c6787.html
%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 07:30e 17-JAN-23