60 million pounds of U3O8
Acquisition, discovery and development of uranium projects - USA & Australia.
Message: Announces Exercise of Over-Allotment Option
| April 2, 2009 |
| Laramide Announces Exercise of Over-Allotment Option |
| TORONTO, ONTARIO--(Marketwire - April 2, 2009) - THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Laramide Resources Ltd. ("Laramide") (TSX:LAM) is pleased to announce today that the underwriters of its recent public offering (the "Offering") have exercised a portion of their over-allotment option and purchased 375,000 common share purchase warrants (the "Warrants") at a price of $0.18 per Warrant. The option was granted pursuant to the Offering of 5,000,000 units at a price of $1.75 per unit for gross proceeds of $8,750,000, which closed on March 5, 2009. Each unit consisted of one common share in the share capital of Laramide (each, a "Common Share") and one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one additional Common Share upon payment of the exercise price of $2.50 on or before 5:00 p.m. (Toronto time) on March 5, 2012, subject to adjustment. The gross proceeds to Laramide from the exercise of the over-allotment option are $67,500. The units were sold through a syndicate of underwriters co-led by GMP Securities L.P. and Dundee Securities Corporation and including Cormark Securities Inc. and Haywood Securities Inc. About Laramide: 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. Laramide's portfolio of advanced uranium projects have been chosen for their production potential. Its flagship project, Westmoreland, in Queensland, Australia, is one of the largest projects currently held by a junior mining company. Its U.S. assets include La Jara Mesa in Grants, New Mexico and La Sal in the Lisbon Valley district of Utah. Its portfolio also includes joint venture, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional geographic diversification and uranium exposure for shareholders. |
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