By Sheri Kasprzak
New York, May 7 - Uranium City Resources Inc. increased the size of its previously announced private placement to C$4,333,334.
The revised offering includes up to 1,074,830 units at C$0.49 each and 7,182,390 flow-through units at C$0.53 each.
The units consist of one share and one warrant, and the flow-through units are comprised of one flow-through share and one warrant.
Warrants from both sets of units are exercisable at C$1.00 each for the first year and at C$1.25 each for the second year.
Evergreen Capital Partners Inc. and First Canadian Securities are the placement agents.
The offering priced as a C$4 million deal on May 2.
Proceeds will be used for exploration and for general corporate purposes.
The deal is expected to close May 24.
Uranium City is a resource exploration company based in Kirkland Lake, Ont.
| Issuer: | Uranium City Resources Inc.
|
| Issue: | Flow-through and non flow-through units of one share and one warrant
|
| Amount: | C$4,333,334
|
| Placement agents: | Evergreen Capital Partners Inc. and First Canadian Securities
|
| Pricing date: | May 2
|
| Upsized: | May 7
|
| Settlement date: | May 24
|
| Stock symbol: | TSX Venture: UCR
|
| Stock price: | C$0.48 at close May 7
|
|
|
| Flow-through units
|
| Units: | 7,182,390
|
| Price: | C$0.53
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 for first year, C$1.25 for second year
|
|
|
| Non flow-through units
|
| Units: | 1,074,830
|
| Price: | C$0.49
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 for first year, C$1.25 for second year
|
© 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.
