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Laramide Resources Completes CA$5 Million Private Placement

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Laramide Resources (ASX:LAM) closed a non-brokered private placement with a strategic investor, issuing 8.4 million common shares at CA$0.60 per share for gross proceeds of CA$5 million, according to a Friday filing with the Australian bourse.

The proceeds will be used for working capital and general corporate purposes, per the filing.

The shares are subject to a four-month-plus-one-day hold period and other resale restrictions, with the closing contingent on regulatory approvals, including approval from the Toronto Stock Exchange, the filing added.

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