TORONTO, March 17, 2022 /CNW/ - Laramide Resources
Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX:
LAM) (OTCQX: LMRXF) is pleased to announce the appointment of
David Thomas, in the newly created
role of General Manger of U.S. Operations, effective
immediately.
As the General Manager based in the
United States, Mr. Thomas will be responsible for all
aspects of Laramide's operations for its U.S.-based uranium
projects, including U.S. investment, multi-project development and
regulatory compliance, and ensuring alignment with the Company's
global uranium exploration and development strategy.
"David's extensive experience in permitting, engineering, mining
operations and construction of major projects worldwide will be
instrumental as we continue to develop our projects, expand our
team and business, and secure investments for Laramide in the U.S.
We are excited to bring such established leadership to the team as
we ramp up to support the permitting initiatives and potential in
our large-scale uranium assets," said Laramide President & CEO
Marc Henderson.
Mr. Thomas is an engineer who brings more than 30 years of
leadership in mining and project construction in both private and
publicly traded companies. He has held senior mining executive
roles, specifically in the construction and commissioning of mines.
Mr. Thomas most recently served as the Vice President of Projects
and Mine General Manager at Sabre Gold Corp., Inc., where he was
instrumental in project permitting and engineering. Over his
career, Mr. Thomas has worked in senior executive roles with
producers including Newmont Gold Mining Corp., Nordgold, and
Comstock Mining Inc. Mr. Thomas has also played several vital
executive roles in the USA and
abroad developing energy projects.
Warrant and Operations Update
The Company is providing a financial update on the outcome of
the Warrant Holders' exercise of the Company's February 2022 common share purchase warrants.
Laramide is pleased to announce that 100% of the outstanding
$0.40 purchase warrants that expired
on February 21, 2022, were exercised
and resulted in total proceeds of $1.35
million from the exercise of 3,375,000 shares. Together with
the Company's previous cash balances, and combined with securities
available for sale, Laramide now has in excess of $10 million in cash and securities on hand and is
essentially fully funded through 2022, a year that is expected to
see increased exploration and development activity, in alignment
with the rapidly improving uranium market where the spot price of
uranium recently reached a 10-year high of $60/pound.
In addition, Laramide would like to announce that Extract
Advisors LLC elected in early March, 2022, to convert $1,286,700 (US$1,000,000) of the outstanding convertible
debt at the conversion price of CDN$0.40 per share resulting in the issuance of
3,216,750 shares of the Company.
Laramide is in the late planning stages for an extensive field
season in Australia this year,
which will commence with drilling at the Westmoreland Uranium
Project. More details about our 2022 exploration plans will follow
soon.
To learn more about Laramide, please visit the Company's website
at www.laramide.com.
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 Churchrock 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 project is one of the
largest uranium projects currently held by a junior mining company.
Laramide is listed on the TSX: LAM and ASX: LAM, and on the OTCQX:
LMRXF.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expect, are
forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "plans", "projects", "intends",
"estimates", "envisages", "potential", "possible", "strategy",
"goals", "objectives", or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions. Actual results or developments
may differ materially from those in forward-looking statements.
Laramide disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws.
Since forward-looking information address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These
include, but are not limited to, exploration and production for
uranium; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of
resource estimates; health, safety and environmental risks;
worldwide demand for uranium; uranium price and other commodity
price and exchange rate fluctuations; environmental risks;
competition; incorrect assessment of the value of acquisitions;
ability to access sufficient capital from internal and external
sources; and changes in legislation, including but not limited to
tax laws, royalties and environmental regulations.
Actual results, performance or achievement could differ
materially from those expressed in, or implied by, the
forward-looking information and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
information will transpire or occur, or if any of them do so, what
benefits may be derived therefrom and accordingly, readers are
cautioned not to place undue reliance on the forward-looking
information.
SOURCE Laramide Resources Ltd.
