Business
CanAlaska Increases Private Placement Financing to $12 Million
Vancouver, British Columbia--(Newsfile Corp. - November 21, 2023) - CanAlaska Uranium Ltd. (TSXV...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Increases Private Placement Financing to $12 MillionVancouver, British Columbia--(Newsfile Corp. - November 21, 2023) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) (\"CanAlaska\" or the \"Company\") announces that further to its news release of November 20, 2023, due to increased demand, it is increasing the total gross amount to be raised under its non-brokered private placement to $12 million (the \"Offering\"). The Offering will be comprised of a combination of: (i) non-flow-through units (the \"NFT Units\") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a \"FT Unit\") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a \"Charity FT Unit\") to be sold at a price of $0.5575 per Charity FT Unit. Each NFT Unit will consist of one non-flow-though common share of the Company (each, a \"NFT Share\") and one common share purchase warrant (each, a \"Warrant\"). Each FT Unit will consist of one common share of the Company to be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada), (each, a \"FT Share\") and one half (½) of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Charity FT Unit will consist of one common share of the Company to be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada), (each, a \"FT Share\") and one common share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder to purchase one common share of the Company (each, a \"Warrant Share\") at a price of $0.56 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units, FT Units and Charity FT Units sold will be determined at closing. The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company's exploration properties. The net proceeds received from the sale of the NFT Units will be used for general working capital.The Company will pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the Offering. All securitie...