By Sheri Kasprzak
New York, Feb. 15 - CanAlaska Ventures Ltd. said it intends to raise up to C$2.5 million in a non-brokered private placement.
The company plans to sell up to 5,952,381 units at C$0.42 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$0.52 each for one year.
Proceeds will be used for exploration on the company's uranium properties in the Athabasca Basin and for working capital.
Based in Vancouver, B.C., CanAlaska is a uranium exploration company.
| Issuer: | CanAlaska Ventures Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2.5 million (maximum)
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| Units: | 5,952,381
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| Price: | C$0.42
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.52
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| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 15
|
| Stock symbol: | TSX Venture: CVV
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| Stock price: | C$0.42 at close Feb. 15
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