UC Resources Ltd.

UC Resources Ltd.

August 18, 2009 15:41 ET

UC Resources Ltd.: Private Placement Oversubscribed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2009) - UC Resources Ltd. (TSX VENTURE:UC) -

Further to the Company's news release of August 17, 2009 announcing a $1,000,000 private placement, the Company is pleased to announce that, due to oversubscriptions, the Company has increased the private placement to $1,130,000, by the sale of an additional 1,000,000 flow-through shares, on the same terms as previously announced.

In addition, the Company is pleased to announce it has arranged a non-flow-through offering of 1,000,000 units, at $0.13 per unit, to raise $130,000 for working capital. Each unit will be comprised of one share and one-half of a warrant with a full warrant entitling the holder to purchase one additional non-flow-through share, at a price of $0.20 per share, for a period of two years. The financing is subject to regulatory approval.

There is no finder's fee payable in connection with the oversubscription.

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

On behalf of the Board of Directors,

Jim Voisin, President & CEO

UC Resources Ltd.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

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