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Uranium City Resources Inc. announces increase to private placement offering to $6.5 million
Uranium City Resources Inc. announces increase to private placement offering to $6.5 million.
About this update from Strategic Resources Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICE OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES/\n\n\nKIRKLAND LAKE, ON, May 7 /CNW/ - Uranium City Resources Inc. ("UCR" or\nthe "Company") (TSX-V: UCR) announces that it has amended the terms of the\nprivate placement offering announced on May 2, 2007 by increasing the size of\nthe offering by up to $500,000.\n\n\nThe Company entered into an amended agreement to raise up to $4,333,334\n(the "Offering") by way of a brokered private placement with Evergreen Capital\nPartners Inc. and First Canadian Securities, a division of Limited Market\nDealer Inc., as co-lead agents (the "Lead Agents"), on a best efforts basis.\nThe Offering will consist of the issuance of up to 1,074,830 units of the\nCompany (each, a "Unit") at a price of $0.49 per Unit (the "Unit Issue Price")\nand up to 7,182,390 "flow-through" units of the Company (each, a "Flow-Through\nUnit") at a price of $0.53 per Flow-Through Unit (the "Flow-Through Unit Issue\nPrice").\n\n\nEach Unit will be comprised of one common share and one common share\npurchase warrant (each, a "Warrant"). Each Flow-Through Unit will be comprised\nof one "flow-through" common share and one Warrant. Each Warrant will entitle\nthe holder thereof to purchase one common share of the Company at a price of\n$1.00 for the first 12-month period following the closing of the Offering and\nat a price of $1.25 for the second 12-month period following the closing of\nthe Offering.\n\n\nThe Lead Agents will be entitled to be paid, in the aggregate, a cash\ncommission equal to 7% of the aggregate gross proceeds raised under the\nOffering. The Company will also grant to the Lead Agents non-assignable\nwarrants (the "Agent Warrants") representing 9% of the number of Units and\nFlow-Through Units sold under the Offering. Each Agent Warrant will entitle\nthe holder thereof to purchase one unit of securities of the Company (each, an\n"Agent's Unit") at the Unit Issue Price for a 24-month period following the\nclosing of the Offering. Each Agent's Unit will be comprised of one common\nshare and one full common share purchase warrant.\n\n\nIn addition, the Company has granted to the Lead Agents an option (the\n"Agents' Option&...