PERTH (miningweekly.com) – ASX- and TSX-listed Laramide Resources will raise up to C$2.1-million through a private share placement to advance exploration and development work at its Church Rock and Crownpoint uranium properties, in the US, and its Westmoreland uranium project in Australia.
Laramide will offer up to seven-million units, at a price of C$0.30 each.
Each unit will consist of one common share in Laramide and one-half of one common share purchase warrant. A whole purchase share warrant would allow the holder to purchase one additional common share at a price of C$0.45 each for a period of 36 months from the closing of the offer.
The offer would also contain a second one-half of a common share purchase warrant. The second full common share warrant would allow the holder to purchase an additional common share at a price of C$0.60 for a period of 36 months.
The second batch of warrants can only be exercised if the holder exercised the first warrant within 18 months of the offer closing.