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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 targets.
For more information visit www.canalaska.com
On behalf of the Board of Directors
(signed)
Peter Dasler,
M.Sc., P.Geo.
President & CEO, CanAlaska Uranium Ltd.
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 Commission.
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