Vancouver, Canada, June 20, 2018 — CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N)) (“CanAlaska” or the “Company”) is pleased to announce that it has now closed the financings it previously announced May 28, 2018. The Company has issued 531,588 units for gross proceeds of $180,740 and 853,276 flow-through units for gross flow-through proceeds of $332,778. In conjunction with these financings, the Company paid finders’ fees to eligible finders in the aggregate amount of $20,292.28 cash and 52,955 finder’s warrants. Each finder’s warrant is exercisable for one common share at a price of $0.51/share for a two year period; provided that after the four month hold period expires, if for 10 consecutive days the closing price of the Company’s shares on the TSX-V exceeds $0.90, then the Company may anytime thereafter accelerate the expiry date of the warrants to the date that is 10 days following the date on which the Company issues notice to all the warrant holders of the new expiry date. The Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the warrants.
The Company proposes to use net proceeds received from these financings to advance the Company’s copper and nickel projects in Manitoba, to carry out additional work on projects within the Athabasca basin and for general working capital purposes.
All securities issued pursuant to these financings are subject to a hold period expiring four months plus a day after the date of their issuance.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 102,870 hectares (254,000 acres), in Canada’s Athabasca Basin region – the “Saudi Arabia of Uranium.” CanAlaska is currently working with Cameco and Denison at two of the company’s properties in the eastern Athabasca basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
On behalf of the Board of Directors
Peter Dasler, P. Geo., President & CEO
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.