TORONTO, ON / ACCESSWIRE / August 11, 2022 / Ubique Minerals Limited (CSE:UBQ) ("Ubique", "UBQ", the "Company") is pleased to announce a non-brokered private placement of up to 20,000,00 Units of the Company at a price of $0.15 per Unit for gross proceeds of up to $3,000,000 (the "Offering"). Each Unit will consist of one (1) common share in the capital of the Company and one (1) common share purchase warrant, with each common share purchase warrant granting the holder the right to purchase one (1) additional common share of the Company at a price of $0.20 per share for a period of 24 months from the closing date of the Offer. The Offering may be closed in tranches.
Any securities to be issued under the Offering will be subject to a hold period of four months and a day from the closing date of the Offering in accordance with applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws. The terms of this private placement are subject to approval by the Canadian Stock Exchange ("CSE").
It is anticipated that insiders of the Company may participate in the Offering. By virtue of their participation, the Offering would constitute a "related party transaction" under applicable securities laws. The Company expects to release a material change report including details with respect to the related party transaction less than 21 days prior to the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner. As the related party transaction will not exceed specified limits and will constitute a distribution of securities for cash, it is expected that neither a formal valuation nor minority shareholder approval will be required in connection with the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
The proceeds are intended to be used for a general working capital purposes, further exploration at its Daniel's Harbour project as well as advancing the company's mineral projects in Africa.
Ubique has launched a newly updated website (www.ubiqueminerals.com) and will also upload additional updates about the Company's projects and media content in the coming weeks.
About Ubique Minerals Limited
Ubique Minerals Limited is an exploration company listed on the CSE (CSE:UBQ) focused on exploration of its Daniel's Harbour zinc property in Newfoundland and is actively looking at other projects around the world. Ubique became a publicly listed company in September 2018. Ubique has an experienced management group with a record of multiple discoveries of deposits worldwide and owns an extensive and exclusive database of historic exploration results from the Daniel's Harbour area.
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Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Ubique Minerals Limited., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Ubique can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Ubique disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Ubique Minerals Limited