UC Resources Ltd. Plans $1.5 Million Private Placement
27 November 2010 - 6:00AM
Marketwired
UC Resources Ltd. (TSX VENTURE: UC) ("UC") intends to carry out a
non-brokered private placement totalling up to 13,636,363 units
raising $1.5 million through a combination of flow-through units
(FT units) and non-flow-through units (hard cash). The FT units are
priced at 11 cents per unit which includes a half warrant
exercisable at 13 cents for a period of 2 years from the date of
closing. The hard cash units are priced at 11 cents per unit which
includes a full warrant exercisable at 13 cents for a period of 2
years from the date of closing.
This private placement is intended to expand existing
exploration plans and allow existing shareholders an opportunity to
participate as well as meet demand from potential new
shareholders.
The securities issued under the non-brokered private placement
will be subject to a four-month hold period from the closing date
in accordance with applicable securities laws. The closing of the
private placement and the payment of finders' fees are subject to
the acceptance of the TSX Venture Exchange.
Interested parties should contact Jim Voisin by phone at
519-699-5352 or by email at drift@golden.net.
The company intends to use the net proceeds from the financing
to expand its planned McFauld's drilling program and airborne
survey and for general corporate purposes.
UC Resources is an active explorer of base metals and chromite
in the McFaulds Lake area ("Ring of Fire") of the James Bay
Lowlands, Ontario, as well as an explorer and a near term producer
of precious metals in Mexico.
On behalf of the Board of Directors,
Jim Voisin, President & CEO
UC Resources Ltd.
We seek safe harbour.
Investors are invited to visit the UC Resources IR Hub at
http://www.agoracom.com/ir/UCResources where they can post
questions and receive answers or review questions and answers
already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to UC@agoracom.com
where they can also request to be added to the investor e-mail list
to receive all future press releases and updates in real time.
Contacts: UC Resources Ltd. - Vancouver Head Office Damien Lowry
(604) 681-7265 or Toll Free: 1-800-366-8566 (Canada & USA)
(604) 608-6163 (FAX) www.ucresources.net
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