- Labrador Uranium (LUR) has upsized its previously announced bought deal private placement from $7 million to $8 million
- The underwriters have agreed to purchase 5,715,000 flow-through units to be sold to charitable purchasers
- LUR has granted the underwriters an over-allotment option to purchase up to 1,429,000 additional charity FT units for additional gross proceeds of up to $2,000,600
- 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 upsized its bought deal private placement from $7 million to $8 million.
Under the revised offering, the underwriters have agreed to purchase 5,715,000 flow-through units of LUR to be sold to charitable purchasers for gross proceeds of $8,001,000.
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 1,429,000 additional charity FT units to raise additional gross proceeds of up to $2,000,600.
The net proceeds from the offering will be used for the exploration of the LUR’s projects in Labrador.
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.
