Laramide Resources Announces Private Placement
Rhea-AI Summary
Laramide Resources (OTCQX: LMRXF), a uranium development and exploration company, has announced a non-brokered private placement offering of up to 16,666,667 common shares at $0.60 per share, aiming to raise gross proceeds of up to $10 million.
Red Cloud Securities Inc. will act as a finder for the offering, and Boss Energy Ltd., which holds a 19.9% stake in Laramide, has committed to maintain its pro-rata share. The offering is being conducted under the Listed Issuer Financing Exemption, meaning the shares will not be subject to a hold period under Canadian securities laws.
The company plans to use the proceeds to advance late-stage US permitting initiatives, working capital, and general corporate purposes. The offering is expected to close around July 14, 2025, subject to regulatory approvals including Toronto Stock Exchange approval.
Positive
- Boss Energy Ltd. (19.9% shareholder) committed to maintain its pro-rata share, showing major shareholder confidence
- No hold period on shares under Canadian securities laws due to Listed Issuer Financing Exemption
- Proceeds will advance late-stage US permitting initiatives, potentially progressing development timeline
Negative
- Dilution of existing shareholders through issuance of up to 16,666,667 new shares
- Offering price of $0.60 per share may represent a discount to market price
News Market Reaction 1 Alert
On the day this news was published, LMRXF gained 2.74%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - June 30, 2025) - Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) ("Laramide" or the "Company"), a uranium mine development and exploration company with globally significant assets in the United States and Australia, is pleased to announce that it has arranged a non-brokered private placement of up to 16,666,667 common shares of the Company (the "Common Shares") at a price of
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Common Shares will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Common Shares issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.
There is an offering document related to the Offering that can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.laramide.com. Prospective investors should read the offering document before making an investment decision.
The Company will use the gross proceeds of the Offering to advance late-stage US permitting initiatives, working capital, and general corporate purposes.
The Offering is scheduled to close on or about July 14, 2025 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange.
The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. Persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
To learn more about Laramide, please visit the Company's website at www.laramide.com or contact:
Marc Henderson, President and CEO
Toronto, Canada +1 (416) 599 7363
Ann Baines, Director, Investor Relations
Toronto, Canada +1 (647) 832-9904
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.
Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size and production potential, and the two large development projects are considered to be late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan where the company is exploring over 5,500 km2 of the prolific Chu-Sarysu Basin for world-class roll-front deposits which are amenable to in-situ recovery.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257277
FAQ
What is the size of Laramide Resources' private placement offering in 2025?
How will LMRXF use the proceeds from the private placement?
When is the expected closing date for Laramide's private placement?
Is Boss Energy participating in Laramide's private placement?
Will the new LMRXF shares be subject to a hold period?
