March 06, 2007 CanAlaska Closes $5,000,000 Private Placement
CanAlaska News Release - March 6 2007
Canada, March 6,
2007 -- CanAlaska Uranium Ltd. (CVV -- TSX.V) (the
that further to its news release dated January 25, 2007, the
Company has completed its non-brokered private placement and has
issued 6,944,444 units for gross proceeds of $5,000,000. Each unit consisted of one common share in the capital of
the Company at a price of $0.72 and one half of one
non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase one
additional common share at a price of $0.93 for a period of
twelve months from the date of closing.
connection with this closing, the Company has paid an aggregate
of $136,897.88 and has issued 28,333 common shares and 44,875
share purchase warrants as finder's fee.Each whole warrant entitles the holder to purchase one
additional common share of the Company for a period of twelve
months from the date of closing at a price of $0.93 per warrant
compliance with Canadian securities law, all of the securities
issued in connection with this private placement are subject to a
hold period expiring on July 7, 2007.
CanAlaska Uranium Ltd. -- www.canalaska.com
Uranium (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt) is
undertaking uranium exploration in seventeen 100%-owned and two
optioned uranium projects in Canada's Athabasca Basin. Since
September, 2004, the Company has aggressively acquired one of the
largest land positions in the region, comprising over 2,500,000
acres (10,117 sq. km or 3,906 sq. miles). In 2005/2006, CanAlaska
expended over Cdn$15 million exploring its properties in the
Athabasca Basin and has delineated multiple uranium targets.
Initial drilling from the West McArthur Project (now under an
earn-in option to be formalized with Mitsubishi Development Pty.
Ltd.) revealed uranium mineralization and significant zones of
hydrothermal alteration, indicative of a favorable environment for
uranium deposition. Active drilling and exploration will continue
in Winter, 2007 at West McArthur and at 4 other significant
behalf of the Board of Directors
Dasler, P. Geo.,President & CEO
Contact: Emil Fung, Vice President, Corporate Development
604.685.1870 Toll Free (North America) 1-800-667-1870 Email:
TSX Venture has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release: CUSIP#13708P 10 2.
news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements
of historical fact, included herein are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with the British Columbia
Securities Commission and the United States Securities & Exchange
Commission. Not to be construed as an offer to buy or sell securities of
CanAlaska Uranium Ltd.
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