- Ultra Resources (ULT) has closed the first tranche of its private placement for gross proceeds of $3,626,899
- The company issued 7,005,148 flow-through units and 16,473,667 non-flow-through units
- Proceeds will be used to fund the exploration of the company’s Argentine and Ontario properties
- Ultra Resources is an exploration and development company
- Ultra Resources Inc. (ULT) opened trading at C$0.22 per share
Ultra Resources (ULT) has closed the first tranche of its private placement for gross proceeds of $3,626,899.
The company issued 7,005,148 flow-through units and 16,473,667 non-flow-through units.
Each unit consists of one common share and one half of one common share purchase warrant.
Proceeds will be used to fund the exploration of the company’s Argentine and Ontario properties and for general working capital purposes.
Finder’s fees of $242,889.46 and 660,227 finder’s warrants were paid in connection with the offering.
The private placement is subject to final approval by the TSX Venture Exchange.
Ultra Resources is an exploration and development company with a focus on the development of lithium, gold, and copper assets. The company holds a brine lithium property in Argentina, and hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada. The company also holds other gold and base metals properties in Argentina.
Ultra Resources Inc. (ULT) opened trading at C$0.22 per share.