CORRECTION FROM SOURCE: CanAlaska Arranges $1,120,000 Financing
Vancouver, British Columbia--(Newsfile Corp. - June 21, 2016) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (the "Company"). The Company wishes to clarify and amend its announcement of a $1,120,000 financing on June 20, 2016.
The Company previously announced a 2,000,000 Unit financing at a price of $0.56 per Unit. The Company wishes to amend the terms of the Units such that each Unit shall now consist of one common share and one share purchase warrant (as opposed to a half-warrant). Each warrant shall entitle the holder to acquire an additional share at $0.70/share for a two year period, provided that if the closing price of the Company's common shares listed on the TSX Venture Exchange exceeds $1.00/share for 10 consecutive trading days, then at any time thereafter the Company may accelerate the exercise period of the warrants to reduce it to a period expiring 10 calendar days after the date express written notice of such acceleration is provided by the Company to the warrant holders.
The Company may pay a finder's fee to eligible finders consisting of cash and/or warrants, in compliance with applicable securities laws.
The offering will be conducted pursuant to available prospectus exemptions in compliance with applicable securities laws.
Net proceeds received from this offering will be used for acquisitions, for uranium and other mineral exploration in Saskatchewan, Manitoba and Alberta, as well as for general corporate purposes.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 500,000 hectares (1.2 million acres), one of the largest land positions in Canada's Athabasca Basin region — the "Saudi Arabia of Uranium." CanAlaska's strategic holdings has attracted major international mining companies Cameco, Denison, KORES, KEPCO, and the De Beers Group of Companies as partners. CanAlaska is a project generator and is positioned for discovery success in the world's richest uranium district. For further information visit www.canalaska.com.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.
| Contacts: | |
| Peter Dasler President Tel: +1.604.688.3211 x 138 Email: info@canalaska.com | John Gomez Corporate Development Tel: +1.604.484.7118 Email : jgomez@canalaska.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. In particular, this news release contains forward-looking information regarding the private placement offering and the use of proceeds of such offering. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. These assumptions include, but are not limited to: future costs and expenses being based on historical costs and expenses, adjusted for inflation; and market demand for, and market acceptance of, the offering. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
