17 Jan Laramide Resources Ltd. Announces Proceeds from Successful Exercise of Warrants
TORONTO, Jan. 17, 2023 /CNW/ – Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that 17,175,000 or 100% of the outstanding warrants to purchase common shares of the Company that expired on January 16, 2023 with a strike price of 30 cents, have been exercised. All cash amounts expressed in Canadian dollars.
These receipts included a total of 1,175,000 warrants exercised by insiders, including the Chairman and the CEO, and resulted in gross proceeds of $5,152,500.00 to the Company. 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 funded through 2023, a year that is expected to see increased exploration and development activity in alignment with the broad-based improvement in the uranium market.
"We are very pleased that all warrant holders demonstrated their support for Laramide’s business activity with their full and complete purchase of the outstanding warrants," says Marc Henderson, President and CEO, Laramide Resources Ltd. "The uranium fundamentals are far stronger than they were when we issued the financing units, which included these warrants, in January 2020. Corporately, we have responded to the positive shift in sentiment towards nuclear energy by resuming exploration and development activities on our most advanced projects."
On January 17, 2023, immediately after the exercises, the Company has 225,404,696 common shares outstanding and fully diluted shares of 233,244,696.
To learn more about Laramide, please visit the Company’s website at www.laramide.com or contact:
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About Laramide Resources Ltd.:
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. Each of Laramide’s portfolio of five advanced uranium projects have been chosen for their production potential. Laramide’s Westmoreland project, in Queensland, Australia, is one of the largest projects currently held by a junior mining company. Its U.S. assets include Church Rock, a large ISR project; Crownpoint, a former uranium mining operation; and the La Jara Mesa in the historic Grants, New Mexico mining district.
This press release contains forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.
SOURCE Laramide Resources Ltd.