PERTH (miningweekly.com) – Dual-listed Laramide Resources has raised C$4.5-million through the private placement of 22.5-million units at a price of 20c.
Each unit consisted of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of 30c each for a period of 36 months from the closing of the offer.
In the event that the company’s shares were trading at a price higher than 60c each for 20 consecutive days of trading at any time after shareholder approval is obtained, Laramide could accelerate the date of the warrants.
The common shares and warrants will be subject to a four month old period, expiring on May 17, with the issue of the warrants subject to Laramide shareholder approval.