Laramide Resources Amendment to Vesting Restriction of Series B Warrants
Toronto, December 10, 2019 - Further to its press release dated June 21, 2018, Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) ("Laramide" or the "Company") announces that the Company has extended the vesting restriction attached to certain outstanding common share purchase warrants (the "Series B Warrants") that were issued as part of the Company's unit offering completed on June 20, 2018 (the "Offering").
Pursuant to the Offering, the Company issued 12,500,000 units, each consisting of: (i) one common share in the capital of the Company, (ii) one-half (1/2) of one common share purchase warrant (each whole such warrant a "Series A Warrant"), with each whole Series A Warrant entitling the holder to purchase one additional common share at a price of $0.45 until June 20, 2021, and (iii) one-half (1/2) of one Series B Warrant, with each whole Series B Warrant entitling the holder to purchase one additional common share at a price of $0.60 until June 20, 2021, provided however that Series B Warrants shall only be exercisable upon the exercise by the holder of an equal number of Series A Warrants on or before December 20, 2019.
The Company has determined to extend the vesting restriction on the Series B Warrants such that the Series B Warrants will be exercisable upon the exercise by the holder of an equal number of Series A Warrants on or before June 20, 2020.
To learn more about Laramide, please visit the Company's website at www.laramide.com.
For further information contact:
Marc Henderson, President and Chief Executive Officer
Toronto, Canada +1 (416) 599 7363
About Laramide Resources:
Laramide is a Canadian-based company with diversified uranium assets strategically positioned in the United States and Australia that have been chosen for their low-cost production potential. Laramide's recently acquired Church Rock and Crownpoint properties form a leading In-Situ Recovery (ISR) division that benefits from significant mineral resources and near-term development potential. Additional U.S. assets include La Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley district of Utah. The Company's Australian advanced stage Westmoreland is one of the largest uranium projects currently held by a junior mining company. Laramide is listed on the TSX: LAM and ASX: LAM.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50672