By Sheri Kasprzak
New York, March 17 - UC Resources Ltd. said it has upped the size of its previously announced private placement to C$1.56 million from C$1.04 million.
The company now plans to sell up to 6 million units at C$0.26 each.
The units consist of one share and one warrant with each warrant exercisable at C$0.34 at 18 months.
The non-brokered deal was priced March 7 as a C$1.04 million offering of 4 million units.
Proceeds will be used for exploration on the company's Copalquin project, for acquisitions and for working capital.
Based in Vancouver, B.C., UC Resources is a mineral exploration company focused on properties in Mexico.
| Issuer: | UC Resources Ltd.
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| Issue: | Units of one share and one warrant
|
| Amount: | C$1.56 million (maximum)
|
| Units: | 6 million (maximum)
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| Price: | C$0.26
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| Warrants: | One warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.34
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| Placement agent: | Non-brokered
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| Pricing date: | March 7
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| Settlement date: | March 17
|
| Stock symbol: | TSX Venture: UC
|
| Stock price: | C$0.31 at close March 7
|
| Stock price: | C$0.315 at close March 17
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