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LARAMIDE COMPLETES A$12.0 MILLION PLACEMENT

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LARAMIDE COMPLETES A$12.0 MILLION PLACEMENT

 

 

 

 

 

Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that further to the news release of November 9, 2023, the A$12 million placement to institutional and sophisticated investors pursuant to s708 of the Corporations Act (Cwth) 2001 in Australia has completed. Funds have been received and CDIs are being issued.

 

Proceeds from the Placement will be used to accelerate development projects in the USA, to ramp up drilling at the companies advanced exploration assets in Australia during the next field season and general working capital and transaction costs.

 

The Placement is comprised of the issue of 20,000,000 Chess Depositary Interests at an issue price of A$0.60 per CDI.   Each new CDI issued under the placement will rank equally with existing CDIs on issue and each CDI will represent a beneficial interest in 1 common share of the Company.  Bell Potter Securities Limited (“Bell Potter”) acted as lead manager and bookrunner to the Placement.

 

This announcement was authorised for release to the ASX by the Board of Laramide Resources Ltd.

 

About Laramide Resources Ltd.:

 

Laramide is focused on exploring and developing high-quality uranium assets in Australia and the western United States. The company’s portfolio comprises five advanced uranium projects in districts with historical production or superior geological prospectivity. Each asset has been carefully chosen for their size, production potential, and are considered late-stage, low-technical risk projects.

 

The Westmoreland project in Queensland, Australia, is one of the largest uranium development assets held by a junior mining company. This project has a PEA that describes an economically robust, open-pit mining project with a mine-life of 13 years.  Additionally, the adjacent Murphy Project in the Northern Territory of Australia is a greenfield asset that Laramide strategically acquired to control the majority of the mineralized system along the Westmoreland trend.

 

In the United States, Laramide’s assets include the NRC licensed Crownpoint-Churchrock Uranium Project, which is proposed to be developed using in-situ recovery production methodology. The Company also owns the La Jara Mesa project in the historic Grants mining district of New Mexico and an underground project, called La Sal, in Lisbon Valley, Utah.

 

Posted November 16, 2023

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