CanAlaska ups flow-through offering to $12 million

CanAlaska Uranium  (TSXV:CVV; OTCQX:CVVUF) has increased its private placement of flow-through and common shares to $12 million from the planned $7.5 million announced yesterday. The offering consists of flow-through units priced at $0.425 per unit, charity flow-through units at $0.5575 per unit, and non-flow-through units priced at $0.36 per unit.

The company said the exact number of each type of unit to be issued  will be determined at closing. It will pay finders' fees comprised of cash and non-transferable warrants in connection with the offering, subject to compliance with the policies of the TSX Venture Exchange.

Each unit will consist of one CanAlaska common share and one common share purchase warrant in the cases of the charity flow-through and non-flow-through units. The flow-through units will include one share plus one-half a share purchase warrant. Each warrant will entitle the holder to purchase a share at $0.56 each in the next 24 months.

CanAlaska holds interests in 350,000 ha in the eastern Athabasca Basin. Core uranium projects include West McArthur (with Cameco), Moon Lake South (with Denison), Key Extension (earning 100% interest), Cree East (100% interest), and Waterbury South (100% interest).

In October 2023, CanAlaska spun out its five nickel properties into a new wholly owned subsidiary known as Core Nickel. See CMJ news for details.

More information is posted on www.CanAlaska.com.