16:46:33 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
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Unity Energy Corp (3)
Symbol UTY
Shares Issued 10,838,746
Close 2016-04-15 C$ 0.40
Market Cap C$ 4,335,498
Recent Sedar Documents

ORIGINAL: Unity Energy closes $445,000 private placement

2016-04-18 11:44 ET - News Release

Received by email:

File: $0.20 PP NR Close (04.18.16).pdf

                #313-515 W est Pender Street, Vancouver, BC , Canada, V6B 6H5
                                 w w w . u n i t ye n e r g yc o r p . c o m



                              UNITY CLOSES PRIVATE PLACEMENT

April 18, 2016 -- Unity Energy Corp., (the "Company") is pleased to announce that it has closed
its non-brokered private placement initially announced April 8, 2016.

The Company raised $445,000 through the sale of 2,225,000 units at a price of $0.20 per unit.
Each unit is comprised of one (1) common share and one-half (1/2) warrant. Each whole warrant
will be exercisable at a price of $0.30 for two (2) years from the date of issuance. Three insiders
of the Company participated in the offering and subscribed for an aggregate of 160,000 units
representing an aggregate amount of $32,000. Participation of insiders of the Company in the
offering constitutes a related-party transaction as defined under MI 61-101. The offering is
exempt from the formal valuation and minority shareholder approval requirements of MI 61-101
as neither the fair market value of securities being issued to insiders nor the consideration being
paid by insiders exceeded 25 percent of the Company's market capitalization. The Company did
not file a material change report 21 days prior to the closing of the offering as details of the
participation of insiders of the Company had not been confirmed at that time.

No finder's fees were paid in connection with this offering. TSX Venture Exchange approval was
received April 15, 2016.

All securities issued in connection with the offering are subject to a statutory hold period of four
months plus a day from the respective date of issuance, in accordance with the applicable
securities legislation.

The Company intends to use the proceeds from the offering for general working capital, and for
exploration expenditures on the Company's Miller's Crossing Lithium Project, located in
Esmeralda County, Nevada.

For more information, contact the Company at 604-681-0004 or visit www.unityenergycorp.com

On Behalf of the Board of Directors of Unity Energy Corp.


Anita Algie
Anita Algie B.Sc. Hon, President




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.
 


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