- Labrador Uranium (LUR) has announced a bought deal private placement of charity FT units for gross proceeds of $7 million
- The underwriters have agreed to purchase 5,000,000 flow-through units of LUR to be sold to charitable purchasers
- LUR has granted the underwriters an over-allotment option to purchase up to 714,286 additional charity FT units for additional gross proceeds of up to $1,000,00
- The offering is scheduled to close on or about April 28, 2022
- Labrador Uranium is engaged in the exploration and development of uranium projects
- Labrador Uranium Inc. (LUR) opened trading at C$1.14 per share
Labrador Uranium (LUR) has announced a bought deal private placement of charity FT units for gross proceeds of $7 million.
Red Cloud Securities Inc. is acting as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters.
The underwriters have agreed to purchase 5,000,000 flow-through units to be sold to charitable purchasers at a price of $1.40 per unit on a “bought deal” private placement basis.
Each charity FT unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share at a price of $1.40 per share for 24 months after the closing date of the offering.
LUR has granted the underwriters an option to purchase for resale up to 714,286 additional units to raise additional gross proceeds of up to $1,000,000. The over-allotment option will be exercisable in whole or in part, up to 48 hours prior to the closing date of the offering.
The offering is scheduled to close on or about April 28, 2022, and is subject to the approval of the Canadian Securities Exchange. The securities issued will be subject to a four-month hold period.
Labrador Uranium is engaged in the exploration and development of uranium projects in Labrador, Canada.
Labrador Uranium Inc. (LUR) opened trading at C$1.14 per share.