By Sheri Kasprzak
New York, Nov. 8 - Laramide Resources Ltd. settled a C$1.4 million private placement.
The company issued 400,000 units at C$3.50 each on a non-brokered basis to European institutional investors.
The units include one share and one half-share warrant. The whole warrants allow for another share at C$4.05 each for two years.
Proceeds will be used for exploration and development of the company's Westmoreland project in Australia.
In other news, Laramide said it completed its acquisition of the La Jara Mesa, Los Ochos and Melrich uranium properties in the western United States from Barrick Gold Corp.
Based in Toronto, Laramide is a mineral development and acquisition 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$1.4 million
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| Units: | 400,000
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| Price: | C$3.50
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| Warrants: | One half-share warrant
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| Warrant expiration: | Two years
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| Warrant strike price: | C$4.05
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| Placement agent: | Non-brokered
|
| Settlement date: | Nov. 2
|
| Stock price: | C$5.85 at close Nov. 2
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