By Sheri Kasprzak
New York, Oct. 3 - Laramide Resources Ltd. said it has wrapped a private placement, with a fully exercised over-allotment option, for C$13 million.
The company sold a total of 5.2 million units at C$2.50 each, including a greenshoe for 1.2 million units exercised by a syndicate of placement agents led by Haywood Securities Inc. and including Pacific International Securities Inc.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$3.25 each for two years.
The offering was first announced Sept. 6 as a C$10 million deal of 4 million units under the same terms.
Proceeds will be used for exploration and development on the company's Westmoreland project in Australia, for acquisition payments for the purchase of a uranium portfolio in the western United States and for working capital and general corporate purposes.
Based in Toronto, Laramide is a mineral exploration company.
| Issuer: | Laramide Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$13 million
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| Units: | 5.2 million (includes greenshoe for 1.2 million)
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| Price: | C$2.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$3.25
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| Placement agents: | Haywood Securities Inc. (lead); Pacific International Securities Inc.
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| Pricing date: | Sept. 6
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| Settlement date: | Sept. 30
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| Stock price: | C$2.77 at close Sept. 6
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| Stock price: | C$5.58 at close Sept. 30
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