Laramide Resources Ltd. Completes Extension of Term Loan and Signs Amended Definitive Share Purchase Agreement with Uranium Resources

Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Laramide Resources Ltd. Completes Extension of Term Loan and Signs Amended Definitive Share Purchase Agreement with Uranium Resources

Canada NewsWire


TORONTO, Dec. 16, 2016 /CNW/ - Laramide Resources Ltd. (the "Company") is pleased to announce that, further to its press release dated October 7, 2016, the Company and its lenders, Extract Capital Master Fund Ltd. and Extract Lending LLC (together, the "Lenders"), with Extract Advisors LLC acting as agent for and on behalf of the Lenders (the "Agent"), completed an amendment (the "Amendment") to the existing C$5 million term loan made by the Lenders in favour of Laramide Resources (USA) Ltd. (the "Term Loan"), which includes, among other things, an extension of the maturity date of the Term Loan to July 1, 2018. Further details related to the Term Loan were provided in a press release issued by the Company on December 1, 2015.

Pursuant to the Amendment, the Company repaid C$1 million of the outstanding principal on the Term Loan. The Company also paid to the Agent an extension fee equal to 2% of the new outstanding principal and issued 1,200,000 additional warrants to the Lenders with an exercise price of $0.3546, each of which is exercisable for one (1) common share of the Company until December 16, 2021.

In addition, subject to regulatory and shareholder approval, the Company has agreed to seek to extend the expiry date of 2,500,000 warrants previously issued to the Lenders on December 31, 2015, each exercisable for one common share, 1,250,000 of which have an exercise price of $0.1911 and 1,250,000 of which have an exercise price of $0.3871, from the original expiry date of December 31, 2018 to December 31, 2020. All of such warrants are held by the Lenders, each an arm's length party to the Company.

The Company is also reporting that it has entered into the amended definitive share purchase agreement (the "Agreement") with Uranium Resources Inc. ("URI") pursuant to which Laramide will acquire URI's wholly owned subsidiary Hydro Resources, Inc., which holds the Churchrock and Crownpoint properties in New Mexico, USA (the "Transaction"). Details related to the amended terms were recently provided by Laramide in a press release dated December 5, 2016.

To learn more about the Company, please visit the Company's website at   

About Laramide Resources:

Laramide is engaged in the exploration and development of high-quality uranium assets. Its wholly owned uranium assets are in Australia and the United States. Laramide's portfolio of advanced uranium projects have been chosen for their production potential. Its flagship project, Westmoreland, in Queensland, Australia, is one of the largest projects currently held by a junior mining company. Its U.S. assets include La Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley district of Utah. Its portfolio also includes joint venture, strategic equity positions and royalty participation in uranium development and exploration companies that provide additional geographic diversification and uranium exposure for shareholders.

Forward-looking Statements and Cautionary Language

This News Release contains forward looking statements which are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.

SOURCE Laramide Resources Ltd.

Copyright CNW Group 2016

Comment On!

Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to (via Easy Blurb).