CanAlaska arranges $6-million equity financing
Wednesday, October 3rd, 2007
CanAlaska Uranium Ltd. has arranged a non-brokered private placement of non-flowthrough units, at a purchase price of 38 cents per non-flow-through unit, and flowthrough units, at a purchase price of 47 cents per flow-through unit, for gross proceeds of up to $6-million.
Each non-flow-through unit will consist of one common share and one-half of one nontransferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of 48 cents for a period of 12 months from closing.
Each flow-through unit will consist of one flow-through common share and one-half of one non-flow-through common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of 55 cents for a period of 12 months from closing.
The proceeds from the private placement will be used for the exploration of the company’s uranium properties in the Athabasca basin of Northern Canada and for general working capital purposes.
A finder’s fee may be paid in connection with this placement. The foregoing is subject to regulatory approval.