CanAlaska Announces Up to C$15 Million "Best Efforts" Private Placement

Executive Summary

• CanAlaska Uranium Ltd. announced a private placement to raise up to C$15 million by issuing 9,757,500 flow‑through common shares (NFT Shares at C$1.50 and SFT Shares at C$1.65).
• The proceeds will be used for qualifying Canadian exploration expenditures, including work on the West McArthur project and other Saskatchewan targets, with renunciation of expenses required by Dec 31 2025/2026.
• The offering is being run on a best‑efforts basis by Desjardins Capital Markets (sole bookrunner) with a 6.0% cash commission payable to the agents; closing expected around Oct 30 2025, subject to TSX‑V approval.

Key Details

• Securities Offered:
• Charity flow‑through “NFT” shares – C$1.50 per share.
• Charity flow‑through “SFT” shares for eligible Saskatchewan subscribers – C$1.65 per share.
• Total Shares: Up to 9,757,500 common shares.
• Maximum Gross Proceeds: C$15 million.
• Placement Structure: Private placement under the Listed Issuer Financing Exemption (LIFE) in all Canadian provinces and territories; no resale restrictions in Canada.
• Use of Proceeds:
• “Canadian exploration expenses” qualifying as flow‑through critical mineral mining expenditures.
• Eligible Saskatchewan mining expenditures to qualify for the provincial Mineral Exploration Tax Credit.
• Expenditures focused on West McArthur project and other Saskatchewan exploration projects.
• Renunciation Timeline: All qualifying expenditures to be renounced in favour of subscribers by Dec 31 2025; related tax credit eligibility required by Dec 31 2026.
• Closing Date: Expected on or about Oct 30 2025, subject to customary conditions and TSX‑V approval.
• Commission: 6.0% of gross proceeds payable in cash to the agents.
• Bookrunner/Agent: Desjardins Capital Markets (sole bookrunner) for a syndicate of agents.
• Documentation: Offering document available on SEDAR+ and company website; investors urged to review before investing.

Notable Quotes

• “The proceeds will accelerate our exploration program, particularly at West McArthur, positioning us for continued discovery in the world‑class Athabasca Basin.” – Cory Belyk, CEO & President.