Proceeds slated for uranium projects and general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 9 – Laramide Resources Ltd. said it will conduct a C$1.5 million non-brokered private placement of units.
The company will sell 6 million units of one common share and one half-share warrant at C$0.25 apiece. Each whole two-year warrant is exercisable at C$0.50, a 56.25% premium to the Dec. 8 closing share price of C$0.32.
Insiders will be participating.
Settlement is expected Dec. 22.
Proceeds will be used to advance uranium projects and for general corporate purposes.
Based in Toronto, Laramide is a uranium exploration company.
Issuer: | Laramide Resources Ltd.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.5 million
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Units: | 6 million
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Price: | C$0.25
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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$0.50
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Agent: | Non-brokered
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Pricing date: | Dec. 9
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Settlement date: | Dec. 22
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Stock symbol: | Toronto: LAM
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Stock price: | C$0.32 at close Dec. 8
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Market capitalization: | C$24.57 million
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