17 Mar Laramide Resources Names General Manager To Lead US Operations
TORONTO, March 17, 2022 /CNW/ – Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce the appointment of David Thomas, in the newly created role of General Manger of U.S. Operations, effective immediately.
As the General Manager based in the United States, Mr. Thomas will be responsible for all aspects of Laramide’s operations for its U.S.-based uranium projects, including U.S. investment, multi-project development and regulatory compliance, and ensuring alignment with the Company’s global uranium exploration and development strategy.
"David’s extensive experience in permitting, engineering, mining operations and construction of major projects worldwide will be instrumental as we continue to develop our projects, expand our team and business, and secure investments for Laramide in the U.S. We are excited to bring such established leadership to the team as we ramp up to support the permitting initiatives and potential in our large-scale uranium assets," said Laramide President & CEO Marc Henderson.
Mr. Thomas is an engineer who brings more than 30 years of leadership in mining and project construction in both private and publicly traded companies. He has held senior mining executive roles, specifically in the construction and commissioning of mines. Mr. Thomas most recently served as the Vice President of Projects and Mine General Manager at Sabre Gold Corp., Inc., where he was instrumental in project permitting and engineering. Over his career, Mr. Thomas has worked in senior executive roles with producers including Newmont Gold Mining Corp., Nordgold, and Comstock Mining Inc. Mr. Thomas has also played several vital executive roles in the USA and abroad developing energy projects.
Warrant and Operations Update
The Company is providing a financial update on the outcome of the Warrant Holders’ exercise of the Company’s February 2022 common share purchase warrants.
Laramide is pleased to announce that 100% of the outstanding $0.40 purchase warrants that expired on February 21, 2022, were exercised and resulted in total proceeds of $1.35 million from the exercise of 3,375,000 shares. Together with the Company’s previous cash balances, and combined with securities available for sale, Laramide now has in excess of $10 million in cash and securities on hand and is essentially fully funded through 2022, a year that is expected to see increased exploration and development activity, in alignment with the rapidly improving uranium market where the spot price of uranium recently reached a 10-year high of $60/pound.
In addition, Laramide would like to announce that Extract Advisors LLC elected in early March, 2022, to convert $1,286,700 (US$1,000,000) of the outstanding convertible debt at the conversion price of CDN$0.40 per share resulting in the issuance of 3,216,750 shares of the Company.
Laramide is in the late planning stages for an extensive field season in Australia this year, which will commence with drilling at the Westmoreland Uranium Project. More details about our 2022 exploration plans will follow soon.
To learn more about Laramide, please visit the Company’s website at www.laramide.com.
About Laramide Resources:
Laramide is a Canadian-based company with diversified uranium assets strategically positioned in the United States and Australia that have been chosen for their low-cost production potential. Laramide’s Churchrock and Crownpoint properties form a leading In-Situ Recovery (ISR) division that benefits from significant mineral resources and near-term development potential. Additional U.S. assets include La Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley district of Utah. The Company’s Australian advanced stage Westmoreland project is one of the largest uranium projects currently held by a junior mining company. Laramide is listed on the TSX: LAM and ASX: LAM, and on the OTCQX: LMRXF.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.
Actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits may be derived therefrom and accordingly, readers are cautioned not to place undue reliance on the forward-looking information.
SOURCE Laramide Resources Ltd.