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Claude Resources, Inc. Message Board

  • lookin_2_score lookin_2_score Jan 24, 2014 5:04 PM Flag

    Laurentian Goldfields Announces C$10 Million Private Placement Financing

    Vancouver, British Columbia – January 24, 2014

    NOT FOR DISTRIBUTION OR TRANSMISSION BY ANY MEANS INTO THE UNITED STATES

    Laurentian Goldfields Ltd. ("Laurentian" or the "Company") (TSX-V: LGF) is pleased to announce a private
    placement of 40,000,000 units at a price of C$0.25 per unit (a “Unit”) for aggregate gross proceeds of C$10
    million (the “Offering”). Each Unit shall be comprised of one common share of Laurentian and one-half of one
    common share purchase warrant. Each whole warrant shall entitle its holder to subscribe for one common share
    during a period of 30 months following the date of its issuance, at a price of C$0.50. The net proceeds of the
    Offering shall be used to complete the acquisition of the Madsen Gold Project (the “Madsen Acquisition”), for
    working capital and general corporate purposes.

    The Offering will be conducted on a best efforts private placement basis, by a syndicate of agents led by
    Macquarie Capital Markets Canada Ltd. (“Macquarie”) and including Canaccord Genuity Corp. and Axemen
    Resource Capital Ltd. (the “Agents”). The Agents will have the option to sell up to an additional 10,000,000 units
    for additional gross proceeds of up to C$2.5 million, exercisable in whole or in part at any time up to 48 hours
    before the closing date of the Offering (the "Option"). In connection with the Offering, the Company will pay the
    Agents a cash commission equal to 6.0% of the gross proceeds of the Offering (inclusive of the Option) and grant
    the Agents broker warrants totalling 6.0% of the number of units sold pursuant to the Offering (inclusive of the
    Option).

    The Offering is expected to close on or about February 18, 2014, and is subject to certain conditions including, but
    not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and
    completion of the Madsen Acquisition. All securities of the Company issued in connection with the Offering will be
    subject to a hold period

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    • I didn't see the caveat - NOT FOR DISTRIBUTION OR TRANSMISSION BY ANY MEANS INTO THE UNITED STATES.

      Hopefully, I didn't break any laws.
      If I did, I apologize.
      I simply reacted to excitement and over exuberance of this good news for Claude Resources and its shareholders.

      • 3 Replies to lookin_2_score
      • Thanks for the update lookin, another interesting start-up is SpinCo, they are a company that is being spun off from the PPP acquisition of BRD, they are spinning off some undeveloped properties in Canada and Mexico into SpinCo and funding the new company with $10 Million. The management of the new company is coming from the old BRD management team. If you buy BRD shares, you will get .175 PPP shares for each BRD share, and .1 SpinCo share. I'm going to wind up with some SpinCo shares when the deal closes, and lots of PPP shares. PPP shares are valuable, they will hopefully grow into a gold major. SpinCo is going to be almost worthless, but that's OK, I kind of have a thing for worthless stocks. If you are looking for another good zombie stock option, there's CRCUF, they got good management, and the stock is on a roll, it closed up over 20% today, and it's still cheap, only seven cents.

      • I'm telling :)

        Don

      • Please excuse my silliness, but why is this good news for Claude shareholders?

 
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