December 24, 2010 NON-BROKERED PRIVATE PLACEMENT - INITIAL CLOSING
CanAlaska News Release - December 24 2010
Vancouver, Canada, December 24th, 2010 -
CanAlaska Uranium Ltd. (TSX.V -- CVV) ("CanAlaska" or the
"Company") wishes to announce that, further to the Company's
News Release dated November 26th, 2010, the Company has closed
initially on a total of 2,117,875 Units at a price of $1.60 per
unit for gross proceeds of $3,388,601 as at December 23rd, 2010.
Of the total Units placed, 446,167 are Flow-Through Units.
Each Unit consists of one common share of the Company and
one-half of a share purchase warrant. Each whole warrant is
exercisable at $1.90 per common share for a period of two years
expiring on December 22nd, 2012. All of the securities issued
under this placement are subject to a four month-hold period
expiring April 24th, 2011.
The proceeds from the unit offering will be utilized by the
Company for qualified uranium exploration expenditures in Canada
and for general and corporate purposes.
Finder's fees have been paid in connection with this placement
for a total of $140,068.00 cash, 31,250 in shares and 149,325 as
warrants. The finder's shares and warrants are subject to the
same hold periods as the above purchasers. Additional finder's
fees are payable in connection with this placement of $4,266.67
cash and 2,667 warrants, pending exchange acceptance. SBI-E2
Capital Financial Services Limited, Hyphen Consulting Limited
and Cheong Lee Securities Limited participated as arrangers in
the placement of Units in Hong Kong, SAR.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUD -- OTCBB, DH7F --
Frankfurt) is undertaking uranium exploration in twenty one
uranium projects in Canada's Athabasca Basin -- the "Saudi
Arabia of Uranium". 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). To-date, CanAlaska has expended over Cdn$75 million
exploring its properties and has delineated multiple uranium
Emil Fung, Director & V.P. - Corp. Dev.
The TSX Venture has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
release: CUSIP# 13708P 10 2. This 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
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