Business
Usha Resources Retains Leading Capital Markets and Communications Advisory Firm and Announces Non-Brokered Private Placement and Closing of First Tranche
NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES VANCOUVER, BC / ACCESSWIRE / Ap...
About this update from Usha Resources Ltd
[{"type":"text","content":"Usha Resources Retains Leading Capital Markets and Communications Advisory Firm and Announces Non-Brokered Private Placement and Closing of First TrancheNOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / April 4, 2022 / Usha Resources Ltd. (\"USHA\" or the \"Company\") (TSXV:USHA)(OTCQB:USHAF) is pleased to announce that, subject to the approval of the TSX Venture Exchange (the \"Exchange\"), it has engaged Volt Strategic Partners Ltd. (\"Volt Strategic\") as its capital markets and communications advisor and has entered into an agreement (the \"Agreement\") dated effective March 29, 2022.Volt Strategic works with investment professionals and senior business leaders to help grow organizational value, build business, and accelerate market appreciation for emerging technology, sustainability, and life sciences public companies.Pursuant to the Agreement, USHA will remunerate Volt Strategic an aggregate amount of $93,600 over a term of twelve months for various services, including but not limited to capital markets and communications advisory, and will grant a total of 250,000 incentive stock options (the \"Options\") of the Company, exercisable for a period of 24 months at market price of $0.375 per Share. The Options are subject to vesting provisions wherein 25% of the Options every three months from the date of grant over a period of not less than 12 months. The Agreement may be extended with the prior written consent of the parties or terminated at any time with 30-day notice.Volt Strategic does not currently have any interest, directly or indirectly, in USHA or its securities.Deepak Varshney, CEO of Usha Resources, stated, \"We are thrilled to partner with Volt. The acquisition of Jackpot Lake firmly puts us in the battery metals space, adding lithium to our existing portfolio of nickel, copper, and cobalt assets. Volt brings a wealth of knowledge and experience in this sector and will help the Company develop a strong capital markets and communications program as we look to increase market awareness and visibility for the investment community.\"Non-Brokered Private PlacementThe Company is also pleased to announce that, subject to the approval of the Exchange, it has arranged for a non-brokered private placement (the \"Private Placement\") of up to 1,000,000 units (each a \"Unit\") at $0.30 p...