Amended: CanAlaska Arranges $1,120,000 Financing

Vancouver, British Columbia, June 21 2016 — CanAlaska Uranium Ltd. “the Company” (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (the “Company”)The Company wishes to clarify and amend its announcement of a $1,120,000 financing on June 20, 2016.

The Company previously announced a 2,000,000 Unit financing at a price of $0.56 per Unit. The Company wishes to amend the terms of the Units such that each Unit shall now consist of one common share and one share purchase warrant (as opposed to a half-warrant). Each warrant shall entitle the holder to acquire an additional share at $0.70/share for a two year period, provided that if the closing price of the Company’s common shares listed on the TSX Venture Exchange exceeds $1.00/share for 10 consecutive trading days, then at any time thereafter the Company may accelerate the exercise period of the warrants to reduce it to a period expiring 10 calendar days after the date express written notice of such acceleration is provided by the Company to the warrant holders.

The Company may pay a finder’s fee to eligible finders consisting of cash and/or warrants, in compliance with applicable securities laws.

The offering will be conducted pursuant to available prospectus exemptions in compliance with applicable securities laws.

Net proceeds received from this offering will be used for acquisitions, for uranium and other mineral exploration in Saskatchewan, Manitoba and Alberta, as well as for general corporate purposes. 

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 600,000 hectares (1.5 million acres), one of the largest land positions in Canada’s Athabasca Basin region — the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings has attracted major international mining companies Cameco, KORES, KEPCO and the De Beers Group of Companies as partners. CanAlaska is a project generator and is positioned for discovery success in the world’s richest uranium district. For further information,   visit www.canalaska.com.

On behalf of the Board of Directors

“Peter Dasler”

Peter Dasler, P. Geo.,  President & CEO

Contact:
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email:

John Gomez
Corporate Development
Tel: +1.604.484.7118
Email :
jgomez@canalaska.com