Claude Resources Inc. completes private placement offering
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SASKATOON,
The Offering consisted of the issuance of 12,000,000 special warrants (the "Special Warrants") at a price of
An underwriting syndicate (the "Underwriters") was lead by RBC Dominion Securities Inc. and also included Toll Cross Securities Inc.,
The Special Warrants will be exercisable at any time following the Closing Date and shall be deemed automatically exercised, if not already exercised by their holders, on the date (the "Expiry Date") which is the earlier of: (i) the third business day after the date a receipt is issued in respect of a final prospectus filed in certain Canadian jurisdictions to qualify the distribution of the Common Shares and Purchase Warrants forming the Units to be issued upon exercise or deemed exercise of the Special Warrants; and (ii) the date which is four months and one day following the Closing Date.
The Company has agreed to use its reasonable best efforts to file a qualification prospectus in each of the provinces of Saskatchewan and Ontario and to obtain a final receipt from the applicable securities regulators in such jurisdictions by
The Company has received conditional listing approval from the
As compensation for the Offering, Claude paid to the Underwriters a commission equal to 5.5% of the gross proceeds of the Offering.
The net proceeds of the Offering will be used to fund the continued exploration of the Madsen Mine and for general corporate purposes.
Claude is a public company based in Saskatoon, Saskatchewan, whose shares trade on the
The securities offered have not been registered under the
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This Press Release may contain 'forward-looking' statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company including with respect to the exercise or deemed exercise of the Special Warrants, matters regarding the filing of a prospectus and the use of proceeds of the Offering. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not anticipated, estimated or intended. Unless otherwise required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.
%SEDAR: 00000498E %CIK: 0001173924
For further information: Neil McMillan, President and Chief Executive Officer, (306) 668-7505, Email: [email protected], Website: www.clauderesources.com
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