Business
CanAlaska Announces up to $638,000 Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2018) - CanAlaska Uranium Ltd. (TSXV: ...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Announces up to $638,000 Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - May 28, 2018) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N), (the \"Company\") is pleased to announce that, subject to regulatory approval, it intends to raise up to $638,000 by way of a non-brokered private placement of up to 1,200,000 flow-through units (\"F/T Units\") at a price of $0.39/F/T Unit and up to 500,000 units (\"Units\") at a price of $0.34/Unit. Each F/T Unit will consist of one flow-through common share and ½ share purchase warrant. Each Unit will consist of one common share and ½ share purchase warrant. Each whole warrant comprising part of the F/T Units and Units will entitle the holder to acquire one common share at $0.51/share for a two year period; provided that after the four month hold period expires, if for 10 consecutive days the closing price of the Company's shares on the TSX-V exceeds $0.90, then the Company may anytime thereafter accelerate the expiry date of the warrants to the date that is 10 days following the date on which the Company issues notice to all the warrant holders of the new expiry date. The Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the warrants.The Company may pay a finder's fee consisting of cash and/or warrants to eligible finders as permitted under applicable securities laws and TSX-V policies. All securities issued in connection with this offering will be subject to a Canadian hold period expiring four months and one day from the date of issuance of such securities. Net proceeds from the F/T Unit financing will be used for uranium, nickel and/or other mineral exploration in Saskatchewan, Manitoba and Alberta, and net proceeds from the Unit financing will be used for acquisitions and/or general corporate purposes. About CanAlaska Uranium CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 102,870 hectares (254,000 acres), in Canada's Athabasca Basin region — the \"Saudi Arabia of Uranium.\" CanAlaska is currently working with Cameco and Denison at two of the company's properties in the eastern Athabasca basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The company als...