VANCOUVER, BC / ACCESSWIRE / November 27, 2020 / Universal Copper Ltd. ("UNV", "Universal Copper" or the "Company") (TSXV:UNV) is pleased to announce that further to its news release on October 26, 2020, the Company has closed an over-subscribed Private Placement of 8,617,335 Units ("Units") at $0.06 per Unit for gross proceeds of $517,040.10. Each Unit is comprised of one common share at $0.06 per common share and one warrant exercisable at $0.10 per common share for three years from closing.
Aggregate finders' fees totaling $15,341 in cash, 156,993 broker's warrants and 98,693 compensation shares will be paid to the following Agents on a portion of the funds raised.
PI Financial Corp., $2,730 and 45,500 warrants;
EMD Financial Inc.; $11,843.21, 98,963 warrants and 98,963 shares;
Haywood Securities Inc., $480 and 8,000 warrants; and
Canaccord Genuity Corp., $288 and 4,800 warrants.
All brokers warrants issued have the same terms as the subscribers' warrants. All securities issued are subject to a four month and a day hold period expiring and may not be traded until March 28, 2021. Use of proceeds will be for general working capital, accounts payable and to advance the Company's projects. The Private Placement has received final acceptance from the TSX Venture Exchange.
For additional information please visit the Company's website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO
For further information, please contact:
Phone: (604) 341-6870
Neither 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.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Universal Copper Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Universal Copper Ltd. management on the date the statements are made. Except as required by law, Universal Copper Ltd. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: Universal Copper Ltd.
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