Business
Ubique Closes First Tranche Of Private Placement And Issues Shares For Debt
TORONTO, ON / ACCESSWIRE / January 2, 2024 / Ubique Minerals Limited ("Ubique" or the "Company...
About this update from Ubique Minerals Ltd.
[{"type":"text","content":"Ubique Closes First Tranche Of Private Placement And Issues Shares For DebtTORONTO, ON / ACCESSWIRE / January 2, 2024 / Ubique Minerals Limited (\"Ubique\" or the \"Company\") (CSE:UBQ)(FRA:2UM) is pleased to announce that the Company has closed the first tranche of the non-brokered private placement offering announced on December 6, 2023 (the \"Offering\").The first tranche of the Offering comprises 1,197,500 flow through units' (each, an \"FT Unit\") priced at $0.08 per unit for total gross proceeds of $95.800, and 805,684 hard dollar units (each, an \"HD Unit\") priced at $0.08 per unit.Each FT Unit comprises one common share and one share purchase warrant, with each warrant granting the holder the right to purchase one additional common share at $0.15 per share for 24 months from the closing date. Each HD Unit comprises one common share and one share purchase warrant, with each warrant granting the holder the right to purchase one additional common share at $0.12 per share for 24 months from the closing date.Subscribers paid $121,800 in cash for the issuance of 1,522,500 units, and a related party creditors of the Company agreed to settle total outstanding debts of approximately $38.455 by the issuance of a total of 480,684 units. Total gross value to the Company was $160,255. The Company paid brokers a fee of total $8,064 in cash and 100,800 brokers warrants in respect of the cash portion of the Offering.The net proceeds from the sale of the Units will be used for advancing the company's project at Daniel's Harbour in Canada and for general working capital purposes.This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.The Offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") as an insider of the Company subscribed for 312,500 Units purs...