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Laramide Resources Announces Private Placement
December 9, 2015
Toronto, Canada – Laramide Resources Ltd. (“Laramide” or the “Company”) is pleased to announce it has arranged a non-brokered private placement (the “Offering”) of up to 6,000,000 units (the “Units”) of the Company at a price of C$0.25 per Unit, for aggregate gross proceeds of up to C$1.5 million.
Each Unit will consist of one common share in the capital of the Company and one-half (1/2) of one non-transferable share purchase warrant (each whole warrant a “Warrant”), with each Warrant to entitle the holder to purchase one additional common share at a price of C$0.50 for a period of 24 months from the date of closing of the Offering.
The closing of the Offering is expected to occur on or about December 22, 2015, and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the Toronto Stock Exchange.
The Units will be offered on a private placement basis and will be subject to a four-month hold period.
Insiders of the Company will be participating in the Offering.
The Company plans to use the proceeds of the Offering to advance its uranium projects in the U.S., Australia and for general corporate purposes.
To learn more about Laramide, please visit the Company’s website at www.laramide.com.
For further information contact:
Marc Henderson, President and Chief Executive Officer
Toronto, Canada +1 (416) 599 7363
Bryn Jones, Chief Operating Officer
Brisbane, Australia, P: (07) 3831 3407
Greg Ferron, Vice-President, Investor Relations
Toronto, Canada +1 (416) 599 7363
About Laramide Resources:
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.
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 are applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.