Peterson McVicar Acts for Red Cloud in Latitude Uranium $5M Bought Deal Private Placement

On Wednesday November 8, 2023 Latitude Uranium Inc. entered into an agreement with Red Cloud
Securities Inc. to act as co-lead underwriter and sole bookrunner on behalf of a syndicate of
underwriters including Haywood Securities Inc., as co-lead underwriter, pursuant to which the
underwriters will purchase for resale 22,727,273 flow-through units of the company at a price of 22
cents per FT unit on a bought-deal private placement basis for gross proceeds of $5-million.
Each FT unit will consist of one common share to be issued as a flow-through share within the meaning
of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each warrant shall
entitle the holder to purchase one common share of the company at a price of 30 cents per warrant
share at any time on or before the date which is 24 months after the closing date of the offering.
The company has granted the underwriters an option to purchase for resale up to 4,545,455 additional
FT units at the offering price to raise additional gross proceeds of up to $1-million. The overallotment
option will be exercisable in whole or in part, up to 48 hours prior to the closing date of the offering.
In connection with the offering, the underwriters will receive a cash commission equal to 6.0 per cent of
the gross proceeds of the offering and that number of non-transferable broker warrants as is equal to
6.0 per cent of the aggregate number of FT units sold under the offering. Each broker warrant will be
exercisable to acquire one common share of the company at a price of 30 cents per share for a period of
24 months after the closing date of the offering.
Latitude Uranium Inc (C:LUR) is exploring and developing two district-scale uranium projects in Canada.
Its primary focus is expanding the resource base at Angilak, which ranks amongst the highest-grade
uranium deposits globally, outside of the Athabasca.

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