Uragold Announces Closing of Over-Subscribed Private Placement Totalling $1,060,340

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[{"type":"text","content":"Uragold Announces Closing of Over-Subscribed Private Placement Totalling $1,060,340(via Thenewswire.ca)\n\n \nMontreal, Quebec, Canada / TheNewswire / July 6, 2016 - Uragold (TSX Venture: UBR) is pleased to announce that it has completed the two previously announced non-brokered private placements. Demand for the hard cash unit's private placement was such that it exceeded the over-allocation allotments reservation mention in the May 25, 2016 press release.\n\n\n \nPrivate Placement\n\n\n \nThe first private placement of hard cash units (\"HC Unit\") completed consist in the issuance and sale of an aggregate amount of 6,200,000 units (\"Unit\") at $0.14 per Unit for gross proceeds of $868,000.\n\n\n \nEach HC Unit are comprised of one (1) common share and one (1) common share purchase warrant (\"Warrant\") of the Company. Each Warrant entitle the holder thereof to purchase one common share of the capital stock of the Company at an exercise price of $ 0.25 during a period of 24 months from the date of closing of the placement. \n\n\n \nThe second placement of Flow Through Shares (\"FT Shares\") completed consist in the issuance and sale of an aggregate amount of 1,373,856 FT Shares at $0.14 per Unit for gross proceeds of $192,339.80. \n\n\n \nEach share issued pursuant to the placement will have a mandatory four (4) month holding period from the date of closing of the placement. The placement is subject to standard regulatory approvals. \n\n\n \nIn Connection with the above placements, the Company paid a cash finder's fee of $62,420 and will issued 356,686 common shares and 89,172 options to EMD Financial Inc. of Montreal Quebec. Each option will give the right to purchase one (1) common share at 14 cents for 24 months.\n\n\n \nBernard Tourillon, Chairman and CEO of Uragold stated, \"We are very encourage by the strong demand generated by the Hard Cash private placement, this bodes well for our future development as we transition into our new Corporate Identity, HPQ Silicon Resources Inc.\"\n\n\n \nThe Funds raised will be used for general corporate expenditures and to finance our ongoing development strategy where, in combination with our presents and anticipated PUREVAPTM QVR development programs; we will be starting a field exploration campaign program on our Roncevaux Quartz Property in order to delineate a resource. This is ...

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