Laramide Resources closes $12-million private placement

Executive Summary

• Laramide Resources Ltd. completed an upsized non‑brokered private placement, issuing 20 million common shares at C$0.60 each for gross proceeds of C$12 million.
• Proceeds will be used to advance late‑stage U.S. permitting initiatives, working capital and general corporate purposes.
• The transaction included a cash commission of C$451,450 and the issuance of 760,750 broker warrants (5% of securities issued) exercisable at C$0.60 per share for two years.

Key Details

• Placement Size: 20 million common shares @ C$0.60 per share → Gross proceeds: C$12 million.
• Advisors & Finders: Red Cloud Securities Inc. and SCP Resources Finance LP (advisers); PowerOne Capital Markets Ltd. (finder).
• Use of Proceeds: Advance late‑stage U.S. permitting initiatives; working capital; general corporate purposes.
• Commission Paid: C$451,450 paid to eligible persons at closing.
• Broker Warrants Issued: 760,750 warrants (=5% of securities issued); each warrant allows purchase of one common share at C$0.60 for two years from closing.
• Related‑Party Transaction: Insiders acquired 3,428,567 common shares; transaction relied on MI 61‑101 exemptions (valuation and minority shareholder approval not required).
• Regulatory Compliance: Offering conducted under NI 45‑106 listed issuer financing exemption; no hold period imposed on issued shares.
• Material Change Report: Not filed ≥21 days prior to closing; company deemed this reasonable given circumstances.

Notable Quotes

(No direct quotes were provided in the release.)