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Usha Resources Closes Final Tranche of Oversubscribed Non-Brokered Private Placement Totalling $2,895,401
Usha Resources Closes Final Tranche of Oversubscribed Non-Brokered Private Placement Tota...
About this update from Usha Resources Ltd
[{"type":"text","content":"\n \n \n \n Usha Resources Closes Final Tranche of Oversubscribed Non-Brokered Private Placement Totalling $2,895,401\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 15, 2022\n \n \n /CNW/ -\n \n Usha Resources Ltd.\n \n \n (\"USHA\" or the \"Company\")\n \n (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0) is pleased to report that, further to its previous news releases (see news releases dated\n \n April 4, 2022\n \n ,\n \n May 16, 2022\n \n and\n \n May 18, 2022\n \n ) and subject to the approval of the TSX Venture Exchange (the \"\n \n Exchange\n \n \"), it has closed its final tranche of its non-brokered private placement (the \"\n \n Private\n \n \n Placement\n \n \") issuing an additional 4,512,007 units (each a \"\n \n Unit\n \n \") at a price of\n \n $0.30\n \n per Unit for total gross proceeds of\n \n $1,353,602\n \n . In total, USHA has raised gross proceeds of\n \n $2,895,401\n \n in all four tranches.\n \n \n \n \n \n \n \n \n \n \n \n Deepak Varshney\n \n , CEO of Usha Resources stated: \"Given the current market conditions, completion of this oversubscribed placement speaks to the strong demand and growing confidence in our team, our Lithium, Gold-Copper and Nickel projects and future vision for where we intend to take this Company. We are very pleased to welcome many new subscribers in this financing, including our latest institutional investor, and thank our existing shareholders who participated for their on-going support. With a well-funded treasury, USHA is positioned to execute at each of our projects and we look forward to a busy and productive field season.\"\n \n \n \n Each Unit issued consists of one common share (a \"\n \n Share\n \n \") in the capital of the Company and one-half of one transferable Share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \") with each whole Warrant exercisable at\n \n $0.45\n \n per Share for a period of 2 years from the date of closing (the \"\n \n Expiry Date\n \n \").\n \n \n In connection with the final tranche of the P...