VANCOUVER, British Columbia, Oct. 09, 2025 (GLOBE NEWSWIRE) -- CanAlaska Uranium Ltd. (TSXV:CVV, OTCQX:CVVUF, Frankfurt: DH7)) ("CanAlaska" or the "Company") is pleased to announce that it has entered into an agreement with Desjardins Capital Markets to act as sole bookrunner on behalf of a syndicate of agents (collectively, the "Agents") pursuant to which the Company intends to issue, on a "best efforts" private placement basis, up to 9,757,500 common shares of the Company, comprised of: (i) charity flow-through common shares of the Company that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "NFT Shares") at a price of C$1.50 per NFT Share; and (ii) charity flow-through common shares of the Company to be issued to certain eligible Saskatchewan subscribers that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and "eligible flow-through shares" as such term is defined in paragraph 2(2)(b) of the The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan) (the "SFT Shares" and together with the NFT Shares, the "Offered Securities") at a price of C$1.65 per SFT Share, for aggregate gross proceeds to the Company of up to C$15 million (the "Offering").
The Offered Securities will be offered to purchasers pursuant to the listed issuer financing exemption ("LIFE Exemption") under Part 5A of NI 45-106, as amended by CSA Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in all of the provinces and territories of Canada. The Offered Securities will not be subject to resale restrictions in Canada pursuant to applicable Canadian securities laws.
The gross proceeds of the Offering will be used by the Company to incur: (i) "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the ...
