{"id":474019,"date":"2021-04-09T00:15:24","date_gmt":"2021-04-09T04:15:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=474019"},"modified":"2021-04-09T00:15:24","modified_gmt":"2021-04-09T04:15:24","slug":"correction-ultra-resources-inc-closes-private-placement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/correction-ultra-resources-inc-closes-private-placement\/","title":{"rendered":"CORRECTION — Ultra Resources Inc. Closes Private Placement"},"content":{"rendered":"
\n

VANCOUVER, British Columbia, April 09, 2021 (GLOBE NEWSWIRE) — In a release issued under the same headline on Wednesday\u00a0April 7, 2021 by\u00a0Ultra Resources Inc. (TSX-V: ULT), please note that\u00a0the finders fees\u00a0have been corrected to\u00a0$66,322 cash and 602,928 finders warrants.\u00a0The corrected release follows:<\/p>\n

Ultra Resources Inc. (TSX-V: ULT) (\u201cUltra Resources\u201d or the “Company”) is pleased to announce that it has closed a non-brokered private placement of 9,438,250 units at $0.11 per unit for total gross proceeds of $1,038,208. Each Unit is comprised of one common share and one-half non-transferable common share purchase warrant (\u201cWarrant\u201d). Each whole Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.20 per share for a period of one year from closing of the private placement provided that if the closing price of the common shares of the Company on any stock exchange or quotation system on which the common shares are then listed or quoted is equal to or greater than Cdn $0.25 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry of the warrants by giving notice to the holders of the warrants that the warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than ten (10) business days from the date notice is given. The Company shall pay finders fees of\u00a0$66,322 cash and 602,928\u00a0finders warrants for a portion this placement.<\/p>\n

The proceeds from the Private Placement will be used to fund the exploration of the Company\u2019s Argentine and Ontario properties and for general working capital purposes.<\/p>\n

All securities issued under the private placement will be subject to a four month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The private placement is subject to final approval by the TSX Venture Exchange.<\/p>\n

The Private Placement securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.<\/p>\n

\n ON BEHALF OF THE BOARD OF DIRECTORS <\/strong>\n <\/p>\n

\n \u201cKiki Smith\u201d<\/em>
\n
\n Kiki Smith, CFO<\/strong>\n <\/p>\n

Ultra Resources is an exploration and development company with a focus on the acquisition and development of gold, copper and lithium assets. The Company holds a brine lithium property in Argentina, and hard rock spodumene type lithium properties at the Georgia Lake \/ Forgan Lake area in northwestern Ontario, Canada. The Company also holds other gold and base metals properties in Argentina.<\/p>\n

\n FOR FURTHER INFORMATION CONTACT:<\/strong>
\n
For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Email:kiki@ultraresourcesin.com<\/a>
Website: www.ultraresourcesinc.com<\/a>
or view the Company\u2019s filings at www.SEDAR.com.<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

VANCOUVER, British Columbia, April 09, 2021 (GLOBE NEWSWIRE) — In a release issued under the same headline on Wednesday\u00a0April 7, 2021 by\u00a0Ultra Resources Inc. (TSX-V: ULT), please note that\u00a0the finders fees\u00a0have been corrected to\u00a0$66,322 cash and 602,928 finders warrants.\u00a0The corrected release follows: Ultra Resources Inc. (TSX-V: ULT) (\u201cUltra Resources\u201d or the “Company”) is pleased to announce that it has closed a non-brokered private placement of 9,438,250 units at $0.11 per unit for total gross proceeds of $1,038,208. Each Unit is comprised of one common share and one-half non-transferable common share purchase warrant (\u201cWarrant\u201d). Each whole Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.20 per share for a period … <\/p>\n

Continue reading “CORRECTION — Ultra Resources Inc. Closes Private Placement”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-474019","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCORRECTION - Ultra Resources Inc. Closes Private Placement - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/correction-ultra-resources-inc-closes-private-placement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CORRECTION - Ultra Resources Inc. 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