UC Resources Ltd. Plans $1.5 Million Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/26/10 -- UC Resources Ltd. (TSX VENTURE: UC) ('UC') intends to carry out a non-brokered private placement totalling up to 13,636,363 units raising $1.5 million through a combination of flow-through units (FT units) and non-flow-through units (hard cash). The FT units are priced at 11 cents per unit which includes a half warrant exercisable at 13 cents for a period of 2 years from the date of closing. The hard cash units are priced at 11 cents per unit which includes a full warrant exercisable at 13 cents for a period of 2 years from the date of closing.
This private placement is intended to expand existing exploration plans and allow existing shareholders an opportunity to participate as well as meet demand from potential new shareholders.
The securities issued under the non-brokered private placement will be subject to a four-month hold period from the closing date in accordance with applicable securities laws. The closing of the private placement and the payment of finders' fees are subject to the acceptance of the TSX Venture Exchange.
Interested parties should contact Jim Voisin by phone at 519-699-5352 or by email at drift@golden.net.
The company intends to use the net proceeds from the financing to expand its planned McFauld's drilling program and airborne survey and for general corporate purposes.
UC Resources is an active explorer of base metals and chromite in the McFaulds Lake area ('Ring of Fire') of the James Bay Lowlands, Ontario, as well as 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.
Contacts:
UC Resources Ltd. - Vancouver Head Office
Damien Lowry
(604) 681-7265 or Toll Free: 1-800-366-8566 (Canada & USA)
(604) 608-6163 (FAX)
www.ucresources.net