By Sheri Kasprzak
Atlanta, June 28 - UC Resources Ltd. said it plans to raise up to C$1.8 million in a private placement.
The non-brokered offering includes up to 18 million units at C$0.10 each.
The units are comprised of one share and one warrant. The warrants provide for the purchase of an additional share at C$0.125 each for 18 months.
In other news, UC has granted incentive options for 1.1 million shares to its directors, employees and consultants. The options are exercisable at C$0.10 each for two years.
Based in Vancouver, B.C., UC Resources is a mineral exploration and development company. The proceeds will be used for acquisitions, debt, exploration and working capital.
| Issuer: | UC Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.8 million (maximum)
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| Units: | 18 million (maximum)
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| Price: | C$0.10
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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$0.125
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| Pricing date: | June 27
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| Stock price: | C$0.145 at close June 27
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