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Upper Canada Gold Corporation Completes Non-Brokered Financing
Mar. 16, 2011 (Filing Services Canada) -- Upper Canada Gold Corporation (UCC - TSX Venture), is...
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[{"type":"text","content":"\nUpper Canada Gold Corporation Completes Non-Brokered Financing\n\n Mar. 16, 2011 (Filing Services Canada) -- Upper Canada Gold Corporation (UCC - TSX Venture), is pleased to announce that it has closed a non-brokered private placement pursuant to which it issued 3,000,000 common shares at a price of $0.30 per share for gross proceeds of $900,000 (the \"Offering\"). In connection with the Offering the Company paid a commission to a registered dealer in the amount of 7% of the gross proceeds and issued broker warrants entitling the dealer to acquire 210,000 common shares at a price of $0.30 per share at any time until the first anniversary of the issuance of the broker warrants. The proceeds from the private placement will be used to provide the Company with additional working capital. The Company has 35,817,534 common shares outstanding following the completion of the Offering.  The securities issued in connection with the Offering are subject to a four month hold period. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FOR FURTHER INFORMATION CONTACT:Michael ChurchillTel: 647-977-9267 x101Fax: 647-977-9268Website: uppercanadagold.comForward Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization, resources and expansion of resources, recoveries, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with mine permitting, metallurgy, development, construction and mining operations, the uncertainty of the determination of mineable ounces of gold and copper in pounds or other minerals in pounds, or the future profitability of the companies projectsSource: Upper Canada Gold Corporation (TSX-V: UCC) http://www.uppercanadagold.comMa...