Uracan settles C$1.46 million non-brokered placement of shares, units

Deal sells shares, flow-through shares, units of shares and warrants

By Devika Patel

Knoxville, Tenn., Dec. 1 – Uracan Resources Ltd. said it raised C$1.46 million in a non-brokered private placement of stock and units on Nov. 26.

The company sold 2,057,030 common shares at C$0.05 each, 14,603,332 flow-through common shares at C$0.06 apiece and 9.69 million units of one common share and a half-share warrant at C$0.05 per unit. Each whole warrant is exercisable at C$0.07 until Nov. 25, 2015.

The prices per share are a 16.67% discount and identical to C$0.06, the Nov. 25 closing share price. The warrant strike price is a 16.67% premium to that price.

Finder's fees were paid in cash to BMO Nesbitt Burns, Canaccord Genuity Corp. and Secutor Capital Management Corp.

Vancouver, B.C.-based Uracan is a natural resource company.

Issuer:	Uracan Resources Ltd.
Issue:	Common shares, flow-through common shares, units of one common share and a half-share warrant
Amount:	C$1,463,552
Agent:	Non-brokered
Settlement date:	Nov. 26
Stock symbol:	TSX Venture: URC
Stock price:	C$0.06 at close Nov. 25
Market capitalization:	C$2.5 million
Common shares
Amount:	C$102,852
Shares:	2,057,030
Price:	C$0.05
Warrants:	No
Flow-through shares
Amount:	C$876,200
Shares:	14,603,332
Price:	C$0.06
Warrants:	No
Units
Amount:	C$484,500
Units:	9.69 million
Price:	C$0.05
Warrants:	One half-share warrant per unit
Warrant expiration:	Nov. 25, 2015
Warrant strike price:	C$0.07

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