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Ubique Minerals Engages Proconsul Capital for Investor Relations Services, Completes Diamond Drilling Program and Announces Private Placement
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About this update from Ubique Minerals Ltd.
[{"type":"text","content":"Ubique Minerals Engages Proconsul Capital for Investor Relations Services, Completes Diamond Drilling Program and Announces Private PlacementThis news release is not for distribution or dissemination in the Unites States of AmericaTORONTO, ON / ACCESSWIRE / December 1, 2020 / Ubique Minerals Limited (\"Ubique\") (CSE:UBQ) has entered into a contract with Proconsul Capital Ltd to provide investor relations services. Diamond drilling has been completed at the Daniel's Harbour Property in Newfoundland and the drill demobilized after completion of eleven drill holes. A private placement is announced to raise up to $1,350,000 comprising Common Share Units and Flow Through Units.The diamond drilling program was started later than planned due to the late arrival of the equipment and as a result ran into colder than expected weather resulting in freezing problems so the program was cut back to testing only three targets. Two holes probing for extensions of the PE Zone were both successful and core samples have been sent for assay. Six short holes were then drilled in a new target area, the \"2160 Zone\" to look for shallow, potentially open pittable zinc mineralization. Five holes intersected visible zinc mineralization and assay results are awaited. Finally the drill was moved to the Nose Zone where historic drilling was confirmed in 2019 and three holes extended the zone to the northeast. Assays are awaited. The 2160 Zone and Nose Zone are on Mineral Licenses under option from Ophir Gold Corp (formerly MinKap Resources Inc.).Proconsul Capital Ltd has been retained to provide investor relations services for the company. The contract provides for monthly periods and with the company having the right to terminate the contract on 30 days notice at any time. Gerald Harper, Ubique's CEO said that \"he was very pleased to have Proconsul working with us as the company needs help to provide the investment community with an appreciation of the significant value of our zinc assets in Newfoundland\".The company is undertaking a private placement to raise up to $1,350,000 comprising up to $350,000 of Common Share Units at $0.07 per Unit and up to $1,000,000 of Flow Through Units at $0.10 per Flow Through Unit. Each of the Common Share Units consists of one common share in the capital of Ubique and one common share purchase warrant, with each whole...