Proceeds earmarked to fund Westmoreland project, corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 3 - Laramide Resources Ltd. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one half-share warrant at C$0.40 apiece. Each whole 18-month warrant is exercisable at C$0.60, a 53.85% premium to the Dec. 2 closing share price of C$0.39.
Settlement is expected Dec. 19.
Proceeds will be used to advance the Westmoreland project and 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: | 5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 19
|
| Stock symbol: | Toronto: LAM
|
| Stock price: | C$0.39 at close Dec. 2
|
| Market capitalization: | C$27.5 million
|
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