Ungava Minerals Corp.

July 18, 2007 16:00 ET

Ungava Minerals Corp. Completes Private Placement

MONTREAL, QUEBEC--(Marketwire - July 18, 2007) - Ungava Minerals Corp. (the "Corporation")(PINK SHEETS:UGVAF) announced today that it has completed a non-brokered private placement for gross proceeds of $1,999,999.50.

The Company issued 2,666,666 units at a price of $0.75 per unit. Each unit consists of one Common Share and one Common Share purchase warrant exercisable into one Common Share for a period of 60 months at an exercise price of $1.25.

The net proceeds of the offering will be used for working capital and general corporate purposes.

This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors which may cause the Company's results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.

Issued and Outstanding: 28,263,276 Common Shares

Contact Information

  • Ungava Minerals Corp.
    Dr. Allan Miller
    (613) 231-5656