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Laramide Resources Increases Private Placement to $4,500,000
Laramide Resources Increases Private Placement to $4,500,000 Canada NewsWire TOR...
About this update from Laramide Resources Ltd.
[{"type":"text","content":"\n\n\n\nLaramide Resources Increases Private Placement to $4,500,000\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, Jan. 10, 2020\n\n\n\nListed (TSX:LAM; ASX:LAM)\n TORONTO, Jan. 10, 2020 /CNW/ - Laramide Resources Ltd. (\"Laramide\" or the \"Company\") announces that it has increased its private placement (the \"Offering\") as announced on January 3, 2020. The Offering has been increased from 15,000,000 units (the \"Units\") at a price of $0.20 per Unit to 22,500,000 Units, for total gross proceeds of $4,500,000. Each Unit will consist of one common share in the capital of the Company (each, a \"Common Share\") and one Common Share purchase warrant (each, a \"Warrant\").\nEach Warrant will entitle the holder to purchase one additional Common Share at a price of $0.30 per Common Share for a period of 36 months from the date of closing of the Offering, subject to the Shareholder Approval (as defined below) requirement. If at any time after the Shareholder Approval is obtained, the Common Shares trade on the Toronto Stock Exchange at a volume weighted average trading price of $0.60 or greater per Common Share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof, and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.\nThe number of securities issuable pursuant to the Offering including both the Common Shares and the Warrants is higher than 25% of the number of the Company's issued and outstanding common shares (on a non-diluted basis). Therefore, pursuant to the requirements of the Toronto Stock Exchange, half of number of Warrants to be issued pursuant to the Offering shall not be exercisable unless and until such time as the shareholders of the Company approve such exercise by way of a simple majority of votes cast in respect of such matter (the \"Shareholder Approval\"). The Company intends to hold a meeting of shareholders to vote on such matter and obtain the Shareholder Approval by ...