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CanAlaska Announces $9,996,000 Private Placement of Flow-Through Shares
Monday, 2nd December at 7:33 am
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Dec. 2, 2024 /CNW/ - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (Frankfurt: DH7)("CanAlaska" or the "Company") announces today that it has entered into an agreement pursuant to which Cormark Securities Inc., as lead underwriter and sole bookrunner (the "Underwriter"), in connection with a "bought deal" private placement of 8,400,000 common shares of the Company that qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Tax (as defined below) (the "FT Shares") at a price of $1.19 per FT Share, for gross proceeds of $9,996,000 (the "Offering").
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada) (the "Tax Act"), to incur (or be deemed to incur) eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" (as both terms are defined in the Tax Act) (the "Qualifying Expenditures") related to the Company's projects in Saskatchewan, on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2024. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Share subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed.
Monday, 2nd December at 7:33 am
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Dec. 2, 2024 /CNW/ - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (Frankfurt: DH7)("CanAlaska" or the "Company") announces today that it has entered into an agreement pursuant to which Cormark Securities Inc., as lead underwriter and sole bookrunner (the "Underwriter"), in connection with a "bought deal" private placement of 8,400,000 common shares of the Company that qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Tax (as defined below) (the "FT Shares") at a price of $1.19 per FT Share, for gross proceeds of $9,996,000 (the "Offering").
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada) (the "Tax Act"), to incur (or be deemed to incur) eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" (as both terms are defined in the Tax Act) (the "Qualifying Expenditures") related to the Company's projects in Saskatchewan, on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2024. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Share subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed.
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