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Enter Symbol
or Name
USA
CA



Usha Resources Ltd
Symbol USHA
Shares Issued 49,027,394
Close 2023-10-19 C$ 0.09
Market Cap C$ 4,412,465
Recent Sedar+ Documents

Usha Resources closes $249,999 private placement

2023-10-20 07:58 ET - News Release

Subject: Usha Resources Announces Closing of Non-Brokered Private Placement Word Document File: '\\swfile\EmailIn\20231019 232550 Attachment USHA NR 2023 10 20 - Close FT Share PP.docx' Suite #400 - 1681 Chestnut Street, Vancouver, BC V6J 4M6 www.usharesources.com Usha Resources Announces Closing of Non-Brokered Private Placement Vancouver, British Columbia / October 20, 2023 - Usha Resources Ltd. ("USHA" or the "Company") (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), announces that, subject to the final approval of the TSX Venture Exchange (the "Exchange"), the Company has closed its non-brokered private placement of $249,999.96 through the issuance of 1,785,714 flow-through shares (each, a "FT Share") at $0.14 per FT Share (the "Private Placement"). The FT Shares qualify as flow-through shares for purposes of the Income Tax Act (Canada). The Company will renounce said expenditures to the investors for the taxation year ending December 31, 2023. The Company intends to use the net proceeds from the Private Placement to incur Canadian exploration expenses (the "Qualifying Expenditures") on its projects in Ontario prior to December 31, 2023. The Company paid finder's fees in the amount of $17,500 and issued 125,000 non-transferable finder's warrant (the "Finder's Warrants") to GloRes Securities Inc. Each Finder's Warrant is exercisable at $0.20 per common share for a period of two years from the date of closing of the Private Placement. All securities issued are subject to the Exchange Hold Period and a four-month and one day hold period pursuant to securities laws in Canada expiring on February 18, 2024. About Usha Resources Ltd. Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality lithium metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Usha's portfolio of strategic properties provides target-rich diversification and includes Jackpot Lake, a lithium brine project in Nevada and White Willow, a lithium pegmatite project in Ontario that is the flagship among its growing portfolio of hard-rock lithium assets. Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0. USHA RESOURCES LTD. For more information, please email info@usharesources.com, or visit www.usharesources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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