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Listed (TSX:LAM; ASX:LAM)
TORONTO, Dec. 29, 2017 /CNW/ - Laramide Resources Ltd.
("Laramide" or the "Company") is pleased to announce, further to its press release dated December 18, 2017, that the amendment to the credit facility in favour of the Company's wholly-owned
subsidiary, Laramide Resources (USA) Inc. (the "Borrower"), granted by Extract Capital
Master Fund Ltd. and Extract Lending LLC, as lenders, has been completed.
The amendment (the "Amendment") includes: (i) extending the maturity date to December 29,
2021, (ii) advancing additional funds such that the outstanding principal, together with the previously outstanding
indebtedness under the facility of US$3,044,765, is US$4,500,000,
(iii) decreasing the interest rate to 7% per annum, and (iv) providing that the outstanding indebtedness under the facility be
convertible into common shares of the Company at a price of C$0.60 per share.
Proceeds from the additional advance will be used to make the Company's and the Borrower's commitments to Westwater Resources
Inc. (formerly Uranium Resources, Inc.) related to the Church Rock acquisition, to further
advance the Church Rock and Crownpoint projects, and for
general corporate purposes.
Any securities issued to be pursuant to the conversion feature included in the Amendment have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be
unlawful.
To learn more about Laramide, please visit the Company's website at www.laramide.com.
Follow us on Twitter @LaramideRes
About Laramide Resources:
Laramide is a Canadian-based company with diversified uranium assets strategically positioned in the
United States and Australia that have been chosen for their low-cost production
potential. Laramide's recently acquired Church Rock and Crownpoint properties form a leading In-Situ Recovery (ISR) division that benefits from significant mineral
resources and near-term development potential. Additional U.S. assets include La Jara Mesa in Grants,
New Mexico, and La Sal in the Lisbon Valley district of Utah. The Company's Australian advanced stage Westmoreland is one of the
largest uranium projects currently held by a junior mining company. Laramide is listed on the TSX: LAM and ASX: LAM.
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.
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