Owner
Post by Franko10 ™ on Oct 7, 2004 18:18:39 GMT -5
Claude Proceeds With Private Placement Offer
Claude Resources Inc. (Claude) has finalized an agreement with Canaccord Capital Corporation, Scotia Capital Inc. and Pacific International Securities Inc. (the Underwriters), by which Claude will issue up to 2,500,000 units to raise a maximum of $5,000,000, of which 2,000,000 of such units have been underwritten on a "bought deal" basis.
The offering, which is subject to regulatory approval and satisfactory due diligence by the Underwriters, consists of 2,000,000 units at $2.00 per unit, with an option by the Underwriters to purchase up to an additional 500,000 units until closing. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole purchase warrant will entitle the holder, upon exercise at any time within 18 months following the closing date, and upon payment of $2.50, to subscribe for one common share. Claude is planning to close this transaction on or about December 18, 2003.
Brokerage fees and brokerage warrants (entitling the Underwriters to purchase up to 150,000 common shares) are payable in respect of this transaction. Each broker warrant will be exercisable into one common share for a period of 12 months from the closing date at an exercise price of $2.10 per common share.
It is the intention of Claude to use the net proceeds from the issuance of the units for expanded development at its Seabee mine and for general corporate purposes.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold by the Underwriters in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Not for distribution to U.S. news wire services or dissemination in the United States.
Statements contained in this document which are not historical fact, are forward looking statements which involve risk and uncertainties which could cause actual results to differ materially from those expressed in the forward looking statements. Such factors include: volatility and sensitivity to market prices for gold and foreign currency, competition, environmental risks, and receipt of permits and approvals from government authorities.
For further information please contact:
Neil McMillan
President
306.668.7505
306.668.7500 Fax
info@clauderesources.com
Renmark Financial Communications Inc.
514.939.3989
514.939.3717 Fax
Neil Murray-Lyon nmurraylyon@renmarkfinancial.com
Edith English eenglish@renmarkfinancial.com
Media: Dominic Sicotte dsicotte@renmarkfinancial.com
Claude Resources Inc. (Claude) has finalized an agreement with Canaccord Capital Corporation, Scotia Capital Inc. and Pacific International Securities Inc. (the Underwriters), by which Claude will issue up to 2,500,000 units to raise a maximum of $5,000,000, of which 2,000,000 of such units have been underwritten on a "bought deal" basis.
The offering, which is subject to regulatory approval and satisfactory due diligence by the Underwriters, consists of 2,000,000 units at $2.00 per unit, with an option by the Underwriters to purchase up to an additional 500,000 units until closing. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole purchase warrant will entitle the holder, upon exercise at any time within 18 months following the closing date, and upon payment of $2.50, to subscribe for one common share. Claude is planning to close this transaction on or about December 18, 2003.
Brokerage fees and brokerage warrants (entitling the Underwriters to purchase up to 150,000 common shares) are payable in respect of this transaction. Each broker warrant will be exercisable into one common share for a period of 12 months from the closing date at an exercise price of $2.10 per common share.
It is the intention of Claude to use the net proceeds from the issuance of the units for expanded development at its Seabee mine and for general corporate purposes.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold by the Underwriters in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Not for distribution to U.S. news wire services or dissemination in the United States.
Statements contained in this document which are not historical fact, are forward looking statements which involve risk and uncertainties which could cause actual results to differ materially from those expressed in the forward looking statements. Such factors include: volatility and sensitivity to market prices for gold and foreign currency, competition, environmental risks, and receipt of permits and approvals from government authorities.
For further information please contact:
Neil McMillan
President
306.668.7505
306.668.7500 Fax
info@clauderesources.com
Renmark Financial Communications Inc.
514.939.3989
514.939.3717 Fax
Neil Murray-Lyon nmurraylyon@renmarkfinancial.com
Edith English eenglish@renmarkfinancial.com
Media: Dominic Sicotte dsicotte@renmarkfinancial.com
