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Laramide Resources Closes Over-Subscribed Equity Financing
Laramide Resources Closes Over-Subscribed Equity Financing Canada NewsWire TORON...
About this update from Laramide Resources Ltd.
[{"type":"text","content":"\n\n\n\nLaramide Resources Closes Over-Subscribed Equity Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 22, 2019\n\n\n\nListed (TSX:LAM; ASX:LAM)     \n TORONTO, Aug. 22, 2019 /CNW/ - Laramide Resources Ltd. (\"Laramide\" or the \"Company\") is pleased to announce it has closed its non-brokered private placement (the \"Offering\"), and that the Offering was over-subscribed as the Company issued 6,750,000 (the \"Units\") of the Company at a price of C$0.25 per Unit (the \"Issue Price\"), for aggregate gross proceeds of $1,687,500.\nEach Unit is comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole Common Share warrant, a \"Warrant\"), with each Warrant exercisable into one Common Share of the Company at a price of $0.40 for a period of thirty (30) months from the Closing Date (as defined below).\nThe securities issued pursuant to the Offering are subject to a statutory four-month hold period expiring on December 22, 2019.\nThe Company paid a cash commission of 5% to certain eligible parties that acted as finders in connection with the Offering.\nThe Company plans to use the proceeds of the Offering to advance exploration and development activities primarily at Church Rock and Crownpoint uranium properties in New Mexico, USA and Westmoreland uranium project in Australia, and for general corporate purposes.\nCertain officers and directors of the Company (the \"Related Parties\") participated in the Offering, and whose participation constitutes a \"related party transaction\" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company's market capitalization. The participants ...