/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMNIATION IN THE UNITED STATES/
SASKATOON, April 9 /CNW/ - Claude Resources Inc. ("Claude" or the
"Company") is pleased to announce that it has completed the private placement
offering (the "Offering") previously announced on March 23, 2009, with amended
terms being announced on March 26, 2009. The Offering consisted of two parts.
The first involved the issuance, on an underwritten private placement basis to
a syndicate of underwriters including National Bank Financial Inc., Dundee
Securities Corporation and Toll Cross Securities Inc. (collectively, the
"Underwriters"), of a total of 8,599,100 units ("Units"), at a price of $0.75
per Unit, for gross proceeds of $6,449,325. Each Unit consisted of one common
share (the "Common Shares") of Claude and one-half of one transferable common
share purchase warrant ("Warrants"). Each whole Warrant entitles the holder to
acquire one Common Share at a price of $0.90 for a period of 18 months from
the date hereof.
The second part of the Offering involved the issuance, on a best efforts
private placement basis, of a total of 5,333,000 flow-through shares (the
"Flow-Through Shares") at a price of $0.80 per Flow-Through Share, for gross
proceeds of $4,266,400.
As compensation for the Offering, Claude paid to the Underwriters a
commission equal to 5% of the gross proceeds of the Offering and an aggregate
of 696,605 broker warrants (the "Broker Warrants"). Each Broker Warrant
entitles the holder to acquire one Common Share at a price of $0.83 for a
period of 24 months from the date hereof.
The net proceeds from the issuance of the Units will be used to repay a
portion of the Company's outstanding debentures (subject to satisfaction of
any necessary approvals or other requirements) and for general corporate
purposes. The gross proceeds from the issuance of the Flow-Through Shares will
be used by the Company to incur Canadian Exploration Expenses, as defined in
the Income Tax Act (Canada). Such expenses will be renounced with an effective
date of no later than December 31, 2009.
Claude is a public company based in Saskatoon, Saskatchewan, whose shares
trade on the Toronto Stock Exchange (TSX-CRJ) and the NYSE Amex (NYSE
Amex-CGR). Claude is a gold exploration and mining company. The Company owns
producing oil and natural gas assets. The Company's entire asset base is
located in Canada. Since 1991, Claude has produced approximately 840,000
ounces of gold from its Seabee mining operation in northeastern Saskatchewan.
The Company also owns 100% of the 10,000 acre Madsen property in the prolific
Red Lake gold camp of northwestern Ontario.
The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would be
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements relating
but not limited to the Company's expectations, intentions, plans and beliefs.
Forward-looking information can often be identified by forward-looking words
such as "anticipate", "believe", "expect", "goal", "plan", "intent",
"estimate", "may" and "will" or similar words suggesting future outcomes or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Forward-looking information may
include reserve and resource estimates, estimates of future production, unit
costs, costs of capital projects and timing of commencement of operations, and
is based on current expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ materially
from any forward-looking statement include, but are not limited to, failure to
establish estimated resources and reserves, the grade and recovery of mined
ore varying from estimates, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of
projects and other factors. Forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from expected results.
Potential shareholders and prospective investors should be aware that
these statements are subject to known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially from those
suggested by the forward-looking statements. Shareholders are cautioned not to
place undue reliance on forward-looking information. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the possibility
that the predictions, forecasts, projections and various future events will
not occur. Claude Resources undertakes no obligation to update publicly or
otherwise revise any forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law.
%SEDAR: 00000498E %CIK: 0001173924
For further information:
For further information: Neil McMillan, President and Chief Executive
Officer, (306) 668-7505, or Rick Johnson, CA, Chief Financial Officer, (306)
668-7505, Email: email@example.com, Website: