Proceeds earmarked to fund Westmoreland project and La Sal project
By Devika Patel
Knoxville, Tenn., Dec. 16 - Laramide Resources Ltd. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 2.5 million units of one common share and one half-share warrant at C$0.80 apiece. Each whole two-year warrant is exercisable at C$1.00, a 25% premium to the Dec. 15 closing share price of C$0.80.
Insiders will be participating for about 25% of the offering.
Settlement is expected Dec. 29.
Proceeds will be used to fund the Westmoreland project and the La Sal project, as well as for general corporate purposes.
Based in Toronto, Laramide is a uranium exploration company.
| Issuer: | Laramide Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 2.5 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 29
|
| Stock symbol: | Toronto: LAM
|
| Stock price: | C$0.80 at close Dec. 15
|
| Market capitalization: | C$50.21 million
|
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