By Sheri Kasprzak
Atlanta, Nov. 22 - UGL Enterprises Ltd. said late Friday the company has raised C$1.2 million in a private placement.
The company sold 3 million units of one share and one half-share warrant at C$0.40 per unit.
The whole warrants allow for the purchase of an additional share at C$0.60 for two years.
UGL, based in Vancouver, B.C., is a gold, copper and uranium exploration company. The company plans to use the proceeds from the private placement for exploration programs on its Mongolian properties and for general working capital.
| Issuer: | UGL Enterprises Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Shares: | 3 million units
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Announcement date: | Nov. 19
|
| Stock price: | C$0.40 at close Nov. 19
|
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