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NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO US NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
This amended news release reproduces the news release filed on March 3, 2023, except that this amended release updates incorrect information pertaining to the share purchase warrant that comprises the unit of the non‑brokered private placement
VANCOUVER, BC / ACCESSWIRE / March 3, 2023 / Usha Resources Ltd. ("USHA" or the "Company") (TSXV:USHA)(FSE:JO0), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to announce that, subject to approval of the TSX Venture Exchange (the "Exchange"), it intends to complete a non‑brokered private placement (the "Private Placement") of up to 6,153,847 units (the "Units") at a price of $0.325 per Unit, for gross proceeds of up to $2,000,000.
Each Unit will consist of one common share (a "Share") of the Company and one transferable common share purchase warrant exercisable at $0.50 per Share for a period of three (3) years from the closing date of the Private Placement.
Finder's fees may be payable in accordance with Exchange policies. The Company anticipates using the proceeds from the Private Placement for exploration activities on the Company's properties in Nevada and Arizona and general working capital.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the securities will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"), as well as other available exemptions under NI 45-106. The securities to be issued pursuant to the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws, except for the Securities to be issued to directors, officers, promoters, consultants, insiders and other persons whose shares will be subject to the hold period required by the Policies of the Exchange. Securities to be issued pursuant to the other available exemptions are subject to a hold period.
There is an offering document related to this offering that can be accessed under the Company's profile at www.sedar.com and at www.usharesources.com. Prospective investors should read this offering document before making an investment decision.