TORONTO, March 21,
2023 /CNW/ - Laramide Resources Ltd.
("Laramide" or the "Company") (TSX: LAM) (ASX: LAM)
(OTCQX: LMRXF) is pleased to announce that the Company and Extract
Advisors LLC acting as agent for and on behalf of the Lenders (the
"Agent"), completed an amendment (the "Amendment") to
the existing term loan made by the Lenders in favour of Laramide
Resources Ltd. (the "Term Loan"), which includes, among
other things, (i) a two year extension of the maturity date of the
Term Loan from March 31, 2023 to
March 31, 2025 (ii) the reduction of
the outstanding facility from USD$4,500,000 to USD$3,500,000 with a USD$1,000,000 repayment made concurrent with the
signing of the Amendment Agreement (iii) no prepayment of the Term
Loan before the Maturity date and (iv) the Company may request
conversion of the loan at any time after September 20, 2023 after the shares of the
Company have traded on the TSX for $1.00 on a volume weighted basis for ten
consecutive days. The conversion price remains at $0.40 per share.
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About Laramide Resources Ltd.:
Laramide is engaged in the exploration and development of
high-quality uranium assets. Its wholly owned uranium assets are in
Australia and the United States. Each of Laramide's
portfolio of five advanced uranium projects have been chosen for
their production potential. Laramide's Westmoreland project, in Queensland, Australia, is one of the largest
projects currently held by a junior mining company. Its U.S. assets
include Crownpoint/Churchrock
which covers two project areas including, a large ISR project and a
former uranium mining operation; the La Jara Mesa in the historic
Grants, New Mexico mining
district; and La Sal, a fully
permitted, underground project in Lisbon Valley, Utah.
This press release contains forward-looking statements. The
actual results could differ materially from a conclusion, forecast
or projection in the forward-looking information. Certain material
factors or assumptions were applied in drawing a conclusion or
making a forecast or projection as reflected in the forward-looking
information.
SOURCE Laramide Resources Ltd.