By Laura Lutz
Des Moines, March 13 - UC Resources Ltd. closed a private placement of flow-through units with MineralFields Group for C$1.5 million.
MineralFields bought 2,678,568 units of one flow-through share and one half-share warrant at C$0.56 per unit. Each whole warrant will be exercisable for one non flow-through share for two years, at C$0.80 in the first year and at C$1.00 in the second year.
Proceeds of the non-brokered placement will be used for working capital and exploration, primarily on the company's McFauld's Lake volcanic-hosted massive sulphide occurrence.
UC Resources is a resource exploration and development company based in Vancouver, B.C.
| Issuer: | UC Resources Ltd.
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 2,678,568
|
| Price: | C$0.56
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80 in the first year; C$1.00 in the second year
|
| Agent: | Non-brokered
|
| Settlement date: | March 13
|
| Stock symbol: | TSX Venture: UC
|
| Stock price: | C$0.465 at close March 12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
