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Laramide Resources Completes Amendment to Credit Facility
Laramide Resources Completes Amendment to Credit Facility Canada NewsWire TORONT...
About this update from Laramide Resources Ltd.
[{"type":"text","content":"\n\n\n\nLaramide Resources Completes Amendment to Credit Facility\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 29, 2017\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\nListed (TSX:LAM; ASX:LAM)\n\n\n\nTORONTO, Dec. 29, 2017 /CNW/ - Laramide Resources Ltd. (\"Laramide\" or the \"Company\") is pleased to announce, further to its press release dated December 18, 2017, that the amendment to the credit facility in favour of the Company's wholly-owned subsidiary, Laramide Resources (USA) Inc. (the \"Borrower\"), granted by Extract Capital Master Fund Ltd. and Extract Lending LLC, as lenders, has been completed.\n\nThe amendment (the \"Amendment\") includes: (i) extending the maturity date to December 29, 2021, (ii) advancing additional funds such that the outstanding principal, together with the previously outstanding indebtedness under the facility of US$3,044,765, is US$4,500,000, (iii) decreasing the interest rate to 7% per annum, and (iv) providing that the outstanding indebtedness under the facility be convertible into common shares of the Company at a price of C$0.60 per share.\n\nProceeds from the additional advance will be used to make the Company's and the Borrower's commitments to Westwater Resources Inc. (formerly Uranium Resources, Inc.) related to the Church Rock acquisition, to further advance the Church Rock and Crownpoint projects, and for general corporate purposes.\n\nAny securities issued to be pursuant to the conversion feature included in the Amendment have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any...