Business
Usha Resources Announces Increase in Non-Brokered Private Placement, Announces Issuance of Shares for Jackpot Lake
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES...
About this update from Usha Resources Ltd
[{"type":"text","content":"Usha Resources Announces Increase in Non-Brokered Private Placement, Announces Issuance of Shares for Jackpot LakeNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREINVANCOUVER, BC / ACCESSWIRE / March 16, 2023 / Usha Resources Ltd. (\"USHA\" or the \"Company\") (TSXV:USHA)(OTCQB:USHAF)(FSE:JO0), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to announce that, subject to approval of the TSX Venture Exchange (the \"Exchange\"), due to investor demand it has increased the size of its non-brokered private placement (the \"Private Placement\"), as previously announced on March 3, 2023. The Company now proposes to issue up to 9,230,769 units (each a \"Unit\") at $0.325 per Unit for total gross proceeds of up to $3,000,000.Each Unit will consist of one common share (a \"Share\") of the Company and one transferable common share purchase warrant exercisable at $0.50 per Share for a period of three (3) years from the closing date of the Private Placement.Finder's fees may be payable in accordance with Exchange policies. The Company anticipates using the proceeds from the Private Placement for exploration activities on the Company's properties in Nevada and Arizona and general working capital.Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the securities will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the \"Listed Issuer Financing Exemption\"), as well as other available exemptions under NI 45-106. The securities to be issued pursuant to the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws, except for the Securities to be issued to directors, officers, promoters, consultants, insiders and other persons whose shares will be subject to the hold period required by the Policies of the Exchange. Securities to be issued pursuant to the other available exemptions are subject to a hold period.There is an offering document related to this Private Pl...