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Ubique Minerals Announces Final Closing of Private Placement Financing, Shares for Debt Settlement and Fieldwork Start at Daniel's Harbour
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About this update from Ubique Minerals Ltd.
[{"type":"text","content":"Ubique Minerals Announces Final Closing of Private Placement Financing, Shares for Debt Settlement and Fieldwork Start at Daniel’s HarbourThis news release is not for distribution or dissemination in the United States of AmericaTORONTO, ON / ACCESSWIRE / August 16, 2021 / Ubique Minerals Limited (\"Ubique\")(CSE:UBQ) announces that it has made the final closing of the private placement financing announced on June 28, 2021 and for which the first tranche was closed and announced July 13, 2021. The total raised is $1,100,000. A shares for debt settlement has been concluded with one director in the amount of $69,816 at $0.06 per share. A Newfoundland and Labrador registered land survey company has been contracted to survey collars of Daniel's Harbour drill holes drilled in 2020 and also historic drill holes that have been found since the previous survey.Private Placement FinancingUbique announces the closing of the final closing of the private placement which was announced by press release dated June 28th, 2021. The closing of $1,100,000 comprises $825,220 hard dollar units and $274,780 in flow through units. These totals include the amounts announced in the press release describing the first tranche closing announced July 13, 2021. Each of the hard dollar units were priced at $0.05 and comprised a share plus a whole warrant with each whole warrant being exercisable at a price of $0.075 per common share for a period of 24 months from the date of issuance. The flow through units were priced at $0.06 and comprised one common share in the capital of Ubique issued on a flow through basis pursuant to the Income Tax Act (Canada) and one half of a common share purchase warrant with each whole warrant being exercisable at a price of $0.075 per common share for a period of 24 months from the date of issuance. The total units comprises 16,504,400.00 units issued for hard dollar units and 4,579,666 units issued for flow through units. 10,814,481 of the units were taken up by insiders, officers and directors of the corporation.The total private placement common shares will represent 30.21% of the increased share capital of Ubique. The terms of this private placement are subject to approval by the Canadian Stock Exchange (\"CSE\").The proceeds are intended to be used for follow-on drilling on Ubique's Daniels Harbour Zinc Project includi...