Proceeds earmarked to fund Westmoreland project and La Sal project
By Devika Patel
Knoxville, Tenn., Dec. 30 - Laramide Resources Ltd. said it raised C$1.7 million in the first tranche of a C$2.5 million non-brokered private placement of units. The company has also increased the deal from the C$2 million it announced when the deal priced on Dec. 16.
The company is now selling 3,125,000 units of one common share and one half-share warrant at C$0.80 per unit. It sold 2,125,000 units in the first tranche and expects to sell another 1 million units in the second tranche on Jan. 6.
Each whole two-year warrant is exercisable at C$1.00, a 25% premium to the Dec. 15 closing share price of C$0.80.
Insiders will be participating for about 25% of the offering.
Proceeds will be used to fund the Westmoreland project and the La Sal project as well as 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$2.5 million
|
| Units: | 3,125,000
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Settlement dates: | Dec. 30 (for C$1.7 million), Jan. 6
|
| Stock symbol: | Toronto: LAM
|
| Stock price: | C$0.80 at close Dec. 15
|
| Market capitalization: | C$48.18 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
