By Sheri Kasprzak
New York, April 5 - Uranium City Resources Inc. has upsized to C$4.25 million its previously announced C$3 million PIPE.
The company now plans to sell 4,757,142 units at C$0.35 each and 6,462,500 flow-through units at C$0.40 each.
The non flow-through units include one share and one half-share warrant. The whole warrants are exercisable at C$0.40 each for 18 months.
The flow-through units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.45 each for 18 months.
The deal priced April 3 as a C$3 million offering of up to 3.75 million flow-through units and up to 4,285,714 non flow-through units.
Proceeds will be used for exploration on the company's properties in Saskatchewan and for working capital.
Located in Kirkland Lake, Ont., Uranium City is a uranium exploration company.
| Issuer: | Uranium City Resources Inc.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$4.25 million (maximum)
|
| Placement agent: | Northern Securities Inc.
|
| Pricing date: | April 3
|
| Upsized: | April 5
|
| Stock symbol: | TSX Venture: UCR
|
| Stock price: | C$0.43 at close April 3
|
| Stock price: | C$0.475 at close April 5
|
|
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| Flow-through units
|
| Units: | 6,462,500 (maximum)
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
|
|
| Non flow-through units
|
| Units: | 4,757,142
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
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