Proceeds slated for uranium projects and general corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 24 – Laramide Resources Ltd. said it completed a C$1.61 million non-brokered private placement of units. The deal priced for C$1.5 million on Dec. 9.
The company sold 6.42 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.
Proceeds will be used to advance uranium projects and for general corporate purposes.
The company paid 6% cash finder's fees to Dundee Capital Markets, Marquest Capital Markets and Secutor Capital Management Corp.
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$1,605,000
|
| Units: | 6.42 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 24
|
| Stock symbol: | Toronto: LAM
|
| Stock price: | C$0.32 at close Dec. 8
|
| Market capitalization: | C$21.18 million
|
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