Canalaska arranges $15-million private placement

Executive Summary

• Canalaska Uranium Ltd. announced a best‑efforts private placement to raise up to C$15 million by issuing up to 9,757,500 common shares (C$1.50 per non‑flow‑through share and C$1.65 per charity flow‑through share).
• Proceeds will be used for Canadian exploration expenses, including qualifying expenditures on the West McArthur project and other Saskatchewan projects, with eligible Saskatchewan subscribers receiving tax‑credit‑eligible flow‑through mining expenditures.
• The offering is expected to close on or about October 30, 2025, subject to customary conditions and TSX Venture Exchange approval; agents will receive a 6.0% cash commission on gross proceeds.

Key Details

• Securities Offered: Up to 9,757,500 common shares comprising:
• Charity flow‑through (NFT) shares at C$1.50 each.
• Charity flow‑through (SFT) shares for eligible Saskatchewan subscribers at C$1.65 each.
• Gross Proceeds Target: Up to C$15 million.
• Use of Proceeds:
• Canadian exploration expenses that qualify as flow‑through critical mineral mining expenditures.
• Eligible Saskatchewan flow‑through mining expenditures qualifying for the Saskatchewan Mineral Exploration Tax Credit, to be renounced by Dec 31, 2025 (tax credit claimable by Dec 31, 2026).
• Projects Funded: Primarily the West McArthur uranium project and other exploration projects in Saskatchewan.
• Closing Date: Expected on or about 30 Oct 2025, or earlier/later as agreed.
• Commission to Agents: Cash commission equal to 6.0% of gross proceeds.
• Exemption Basis: Offered under the Listed Issuer Financing Exemption (LIFE) pursuant to NI 45‑106 and CSA Coordinated Blanket Order 45‑935; no resale restrictions in Canada.
• Bookrunner: Desjardins Capital Markets, acting as sole bookrunner for a syndicate of agents.

Notable Quotes

(No direct quotes were provided in the release.)