Unique Resources Corp.
TSX VENTURE : UQ

March 30, 2012 14:20 ET

Unique Resources Corp. Closes IPO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2012) - Unique Resources Corp. (the "Company") (TSX VENTURE:UQ) is pleased to announce that it has completed its initial public offering ("IPO") of 5,500,000 common shares, at a price of $0.15 per common share, for aggregate gross proceeds of $825,000 (the "IPO"). The proceeds of the IPO will be expending on the Company's Lucifer Property, an early stage copper-gold porphyry style property located in the Skeena mining district of British Columbia, and as described in the Company's prospectus dated February 6, 2012 as filed on SEDAR. The Company's common shares are now listed on the TSX Venture Exchange (the "TSXV") subject to a halt and the Company expects that the halt will be lifted and that the Company's common shares will commence trading on the TSXV on April 3, 2012 under the trading symbol "UQ".

Wolverton Securities Ltd. acted as agent on the IPO. As consideration for assisting in completing the IPO, the Company: (i) paid an 8% marketing commission payable in cash; (ii) paid a corporate finance fee (plus applicable taxes) of $25,000 consisting of $22,000 (plus applicable taxes) and the issue of common shares of the Company at the rate of one common share for each $0.15 of corporate finance fee, being 20,000 common shares of the Company; (iii) issued options (the "Agent's Options") to acquire 440,000 common shares of the Company (exercisable at $0.15 per share until March 30, 2014); and (iv) paid the Agent's expenses as incurred.

As a result of the closing of the IPO, the Company now has 14,020,000 common shares issued and outstanding (of which 4,000,000 shares and 2,000,000 warrants are subject to escrow restrictions). The Company also has an aggregate 7,190,000 shares reserved for issuance pursuant to: (i) the exercise of 6,500,000 outstanding share purchase warrants exercisable at $0.15 per share expiring March 30, 2017; (ii) 440,000 shares reserved for issuance pursuant to exercise of the Agent's Options; and (iv) 250,000 shares to be issued assuming the Company exercises its option to acquire 100% of the Lucifer Property.

The board of directors consists of Gary Freeman, Darryl Cardey, Cale Moodie and James Dawson. Gary Freeman is the President, CEO and Secretary and Darryl Cardey is the CFO.

ON BEHALF OF THE BOARD

Gary Freeman, President, CEO and Secretary

This press release includes "forward-looking statements" that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements related to the listing of the Company's common shares on the TSX Venture Exchange and the use of the proceeds of the IPO are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. The Company does not update forward-looking statements, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Unique Resources Corp.
    Gary Freeman
    President, CEO and Secretary
    604-569-2963
    604-568-0945 (FAX)