Laramide Resources Extends Expiry Date of Certain Outstanding Warrants
Jun 5, 2015
TORONTO, June 5, 2015 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX:LAM, ASX:LAM) intends to extend the expiry date of two series of common share purchase warrants, for a twelve-month period.
The Company proposes to extend the expiry date of the following warrants:
The Company has applied to the Toronto Stock Exchange to extend the expiry date of the Series A Warrants and Series B Warrants for a twelve-month period to June 19, 2016 and December 23, 2017, respectively. There will be no other changes to these warrants. An aggregate of 3,892,500 common shares are issuable upon exercise of the Series A and Series B Warrants which represents a dilution of 4.6% based on the issued and outstanding common shares as at June 5, 2015.
To the extent that any Series A Warrants and Series B Warrants are held by insiders of the Company, such warrants will be excluded from the extension and would expire on their original expiry date.
As at close of business on June 4, 2015, the closing price of the common shares of the Company was$0.24.
The extension of the expiry dates of the Series A Warrants and Series B Warrants requires TSX approval. The effective date of the amendment is anticipated to be June 19, 2015.
For further information on Laramide, please visit www.laramide.com
About Laramide Resources:
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Laramide Resources Ltd.
For further information: Marc Henderson, President and Chief Executive Officer, Toronto, Canada +1 (416) 599 7363; Bryn Jones, Chief Operating Officer, Australia, Brisbane, Australia +61 (7) 3831 3407; Greg Ferron, Vice-President, Investor Relations, Toronto, Canada +1 (416) 599 7363