CanAlaska Completes $5M Private Placement Financing
Rhea-AI Summary
CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) has successfully closed its fully-subscribed non-brokered private placement, raising $4,999,999.55 in gross proceeds. The company issued 7,692,307 common shares as part of the offering, which was initially announced on September 6, 2024. CanAlaska paid $249,999.98 in finder's fees related to the transaction. All shares issued are subject to a hold period ending January 14, 2025, in compliance with applicable securities laws and TSX Venture Exchange policies. This financing strengthens CanAlaska's financial position, potentially supporting future exploration and development activities in the uranium sector.
Positive
- Successful completion of a $5 million private placement
- Fully-subscribed offering indicates strong investor interest
- Strengthened cash position to support company operations and potential projects
Negative
- Dilution of existing shareholders due to issuance of 7,692,307 new common shares
- $249,999.98 paid in finder's fees, reducing net proceeds from the offering
News Market Reaction – CVVUF
On the day this news was published, CVVUF declined 4.53%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 13, 2024) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce that it has closed its fully-subscribed non-brokered private placement (the "Offering") previously announced on September 6, 2024. Under the Offering, the Company has issued 7,692,307 common shares for gross proceeds of
All shares issued under the Offering are subject to a hold period expiring January 14, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("TSXV").
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) is a Canadian based exploration company and holds interest in approximately 500,000 hectares (1,235,000 acres) in Canada's Athabasca Basin focused on exploration and discovery of high-grade unconformity uranium deposits. The Company is actively advancing the Pike Zone discovery - a new high-grade uranium discovery on its West McArthur Joint Venture project in the eastern Athabasca Basin. In addition, the Company has several other uranium-focused exploration programs. CanAlaska deploys a hybrid project generator model, focusing on the acquisition and sale of prospective projects, while also executing exploration programs on CanAlaska's most strategic land holdings. The Company's extensive portfolio has attracted international mining companies, including Cameco Corporation and Denison Mines as active partners. CanAlaska is led by an experienced team of professionals with a proven track record of discovery.
The Company's head office is in Saskatoon, Saskatchewan, Canada with a satellite office in Vancouver, BC, Canada. For further information visit www.canalaska.com.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
| Cory Belyk, CEO and President | General Enquiry |
| Tel: +1.306.668.6900 | Tel: +1.306.668.6915 |
| Email: cbelyk@canalaska.com | Email: info@canalaska.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223208