TORONTO, Jan. 17,
2023 /CNW/ - Laramide Resources Ltd. ("Laramide" or
the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to
announce that 17,175,000 or 100% of the outstanding warrants to
purchase common shares of the Company that expired on January 16, 2023 with a strike price of
30 cents, have been exercised. All
cash amounts expressed in Canadian dollars.
These receipts included a total of 1,175,000 warrants exercised
by insiders, including the Chairman and the CEO, and resulted in
gross proceeds of $5,152,500.00 to
the Company. Together with the Company's previous cash balances,
and combined with securities available for sale, Laramide now has
in excess of $10 million in cash and
securities on hand and is essentially funded through 2023, a year
that is expected to see increased exploration and development
activity in alignment with the broad-based improvement in the
uranium market.
"We are very pleased that all warrant holders demonstrated their
support for Laramide's business activity with their full and
complete purchase of the outstanding warrants," says Marc Henderson, President and CEO, Laramide
Resources Ltd. "The uranium fundamentals are far stronger than they
were when we issued the financing units, which included these
warrants, in January 2020.
Corporately, we have responded to the positive shift in sentiment
towards nuclear energy by resuming exploration and development
activities on our most advanced projects."
On January 17, 2023, immediately
after the exercises, the Company has 225,404,696 common shares
outstanding and fully diluted shares of 233,244,696.
To learn more about Laramide, please visit the Company's website
at www.laramide.com or contact:
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.:
Laramide is engaged in the exploration and development of
high-quality uranium assets. Its wholly owned uranium assets are in
Australia and the United States. Each of Laramide's
portfolio of five advanced uranium projects have been chosen for
their production potential. Laramide's Westmoreland project, in Queensland, Australia, is one of the largest
projects currently held by a junior mining company. Its U.S. assets
include Church Rock, a large ISR
project; Crownpoint, a former
uranium mining operation; and the La Jara Mesa in the historic
Grants, New Mexico mining
district.
This press release contains forward-looking statements. The
actual results could differ materially from a conclusion, forecast
or projection in the forward-looking information. Certain
material factors or assumptions were applied in drawing a
conclusion or making a forecast or projection as reflected in the
forward-looking information.
SOURCE Laramide Resources Ltd.