UC Resources Ltd.
TSX VENTURE : UC

UC Resources Ltd.

March 18, 2009 16:30 ET

UC Arranges $3-Million Private Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2009) - UC Resources Ltd. (TSX VENTURE:UC) has entered into an agreement with IBK Capital Corp., whereby IBK will place up to 30 million common shares of UC on a best efforts basis for gross proceeds of up to $3,000,000 by way of private placements. The initial placement will consist of $2.2 million in flow-through shares and the second private placement will be $800,000 in hard dollar units, at prices of $0.10 per share and $0.10 per unit. All shares will have a four month hold period.

Each flow-through share consists of one common share of the Company. Each hard dollar unit will consist of one share and one-half warrant. One full warrant allows the holder to acquire one common share of UC at a price of $0.15 for a period of 24 months from the date of issue.

Proceeds raised through this private placement will be used to finance an expanded exploration program on UC's projects at McFaulds Lake and general working capital purposes.

UC Resources is an active explorer of base metals in the McFaulds Lake area of the James Bay Lowlands, Ontario, plus an explorer and a near term producer of precious metals in Mexico.

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

We seek safe harbour.

Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

Contact Information

  • UC Resources Ltd.
    Vancouver Head Office
    Toll Free: 1-800-366-8566 (Canada & USA)
    Website: www.ucresources.net