Cassels Brock & Blackwell LLP
acted for Labrador Uranium on the deal.
On April 28, 2022, Labrador Uranium Inc. (CSE: LUR) (F: EI1) closed a bought deal private placement of 7,144,000 flow-through units, which were sold to charitable purchasers at a price of $1.40 per flow-through unit, for gross proceeds of approximately $10 million, which includes the full exercise of the underwriters’ over-allotment option.
Each flow-through unit is comprised of one common share, issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one-half of one common share purchase warrant issued on a non-flow-through basis.
The net proceeds from the sale of the FT Shares are expected to be used for the exploration of LUR’s projects in Labrador, Canada and for “Canadian Exploration Expenses”.
Labrador Uranium is engaged in the exploration and development of uranium projects in Labrador, Canada. LUR has acquired the Moran Lake and CMB Projects covering over 139,000 ha in the prolific Central Mineral Belt (CMB) in central Labrador and the Notakwanon Project in northern Labrador.
The Cassels’ team was led by Jamie Litchen (Picture), and included Thea Gaertner, Tera Li Parizeau and Kimberly Dodson.
Law Firms: Cassels Brock & Blackwell LLP;
Clients: Labrador Uranium Inc.;