Listed (TSX:LAM; ASX:LAM)
TORONTO, March 13, 2015 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") is pleased to announce that it has closed a non-brokered private placement (the "Offering") for aggregate gross proceeds of C$2.0 million. The Offering consisted of 5,714,282 units (the "Units") of the Company at a price of C$0.35 per Unit.
Each Unit consists of one common share in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to purchase one additional common share at a price of C$0.45 for a period of 36 months from the date of closing of the Offering.
The Units were offered on a private placement basis and the securities issued in connection with the Units are subject to a four-month hold period.
The Company plans to use the proceeds of the Offering to advance its uranium projects in Queensland and Northern Territory in Australia, the U.S., and for general corporate purposes.
The Company paid a cash commission of 6% and issued 74,569 finder warrants (the "Broker Warrants") on certain orders with respect to services provided in connection with the Offering. Each Broker Warrant entitles the holder to purchase one common share at a price of C$0.36 for a period of 36 months from closing.
To learn more about Laramide, please visit the Company's website at www.laramide.com.
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.
SOURCE Laramide Resources Ltd.
For further information: 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