Universal Copper Announces FT and NFT Private Placements for Proceeds of up to $690,000
Friday, March 22, 2019 1:25 PM
VANCOUVER, BC / ACCESSWIRE / March 22, 2019 / Universal Copper Ltd. ("UNV", "Universal Copper" or the "Company") (formerly Tasca Resources Ltd.) (TSX Venture symbol: UNV) wishes to announce that further to its price reservation on file with the TSX Venture Exchange (the "Exchange"), it intends to proceed with a private placement of up to 6,000,000 Non-Flow Through Units ("NFT Unit") at $0.065 per Unit for gross proceeds of up to $390,000.00. Each NFT Unit is comprised of one common share at $0.065 and one warrant exercisable at $0.10 per common share for five years from closing.
In addition, and also pursuant to its Price Reservation on file, it intends to proceed with a private placement of up to 4,000,000 Flow Through Units ("FT Unit") at $0.075 per FT Unit for gross proceeds of up to $300,000.00. Each FT Unit is comprised of one Flow-Through common share at $0.075 per share and one warrant exercisable at $0.10 per common share (which is not a flow-through share) for two years from closing.
There may be finders' fees payable. The private placements are subject to TSX Venture Exchange acceptance and the resulting securities which are issued will be subject to a four month and a day hold period. Use of proceeds will be for General working capital and to advance the Company's projects.
For additional information please visit the Company's website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO
For further information, please contact:
Phone: (604) 644-6794
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Universal Copper Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Universal Copper Ltd. management on the date the statements are made. Except as required by law, Universal Copper Ltd. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Universal Copper Ltd.