THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
TORONTO, Ontario, June 19, 2008 – Laramide Resources Ltd. ("Laramide") (TSX:LAM) announced today that it has completed its previously announced offering (the "Offering") of 3,375,000 common shares at a price of $4.00 per common share for gross proceeds of $13,500,000. The common shares were sold through a syndicate of underwriters led by Dundee Securities Corporation and including Clarus Securities Inc. and Haywood Securities Inc. (the "Underwriters") The Underwriters have also exercised the over-allotment option granted to them by the Corporation under the Offering for additional aggregate gross proceeds of $1,350,000.
The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
Laramide is engaged in the exploration and development of high quality uranium assets. Its wholly owned uranium assets are in Australia and the United States. Laramide's portfolio of advanced uranium projects have been chosen for their production potential. Its flagship project, Westmoreland, in Queensland, Australia, is one of the largest projects currently held by a junior mining company. Its U.S. assets include La Jara Mesa in Grants, New Mexico and La Sal in the Lisbon Valley district of Utah. Its portfolio also includes joint venture, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional geographic diversification and uranium exposure for shareholders.
For further information contact:
Flora Wood, Investor Relations
More information may be found at www Laramide.com.
This press release contains forward-looking statements. Forward-looking statements involve known or unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Laramide to be materially different from those projected by such forward-looking statements. Such factors include, among others, access to capital and future prices of uranium, gold and other base metals and those factors disclosed under the heading "Risk Factors" and elsewhere in Laramide documents filed from time to time with applicable regulatory authorities.