Trading Symbols: TSX: CRJ, OTCQB: CLGRF
SASKATOON,
March 28, 2014 /PRNewswire/ -
Claude Resources Inc. ("Claude" and or the "Company") has
announced that it has completed a private placement (the "Private
Placement") of common shares in the capital of Claude ("Common
Shares").
The Private Placement consisted of the issuance
of 4,545,454 Common Shares at a price of CDN $0.22 per Common Share, being the market price of
the Common Shares within the meaning of the Toronto Stock Exchange
Company Manual, to Crown Capital Partners Inc. ("CCP").
The Common Shares have been issued to CCP as
payment for a waiver being granted by CCP in connection with a
Credit Agreement dated as of April 5,
2013 as a result of a covenant breach at December 31, 2013, as well as the modification of
certain covenants. Concurrently with satisfaction of this
one-time payment, the 5.75 million common share purchase warrants
pursuant to the original agreement were cancelled in conjunction
with the waiver.
Claude Resources Inc. is a publicly
traded gold exploration and mining company based in Saskatoon, Saskatchewan, whose shares trade on
the Toronto Stock Exchange (TSX: CRJ) and the OTCQB (OTCQB: CLGRF).
Its asset base is located entirely in Canada and since 1991, Claude has produced
over 1,000,000 ounces of gold from its Seabee Gold Operation in
northeastern Saskatchewan. The
Company also owns 100 percent of the Amisk Gold Project in
northeastern Saskatchewan.
SOURCE Claude Resources Inc.