The TSX Venture Exchange has accepted for filing Usha Resources Ltd.'s qualifying transaction as principally described in the company's filing statement dated Sept. 30, 2019. The QT includes the following matters, all of which have been accepted by the exchange.

Pursuant to an agreement dated March 7, 2019, between the company and Emerald Lake Development Corp., the company acquired from Emerald the option to acquire a 51-per-cent interest in the Nicobat property, Ontario. Pursuant to the agreement, the company has issued to Emerald 1.5 million shares of the company for a 51-per-cent interest in the property. For additional information, please refer to the company's filing statement dated Sept. 30, 2019, available under the company's profile on SEDAR, as well as the company's news releases dated April 17, 2019, Oct. 7, 2019, and Dec. 9, 2019.

Further to the above, the exchange has accepted for filing documentation with respect to a non-brokered private placement, which included flow-through (FT) shares.

Number of shares:  3,327,000 shares

Purchase price:  9.5 cents per share

Warrants:  3,327,000 share purchase warrants to purchase 3,327,000 shares

Warrant exercise price:  19 cents for a two-year period

Number of FT shares:  1.2 million shares

Purchase price:  13 cents per share

Warrants:  1.2 million share purchase warrants to purchase 1.2 million shares

Warrant exercise price:  26 cents for a two-year period

Number of placees:  46 placees

Insiders:  Navin Varshney, 364,300; Deepak Varshney, 163,400

Finder's fee:  $875 payable to PI Financial Corp.

Capitalization:  unlimited shares with no par value, of which 10,227,000 shares are issued and outstanding

Escrow:  nil shares subject to Tier 2 value escrow

Transfer agent:  Computershare Investor Services Inc.

Trading symbol:  USHA (same symbol but with .P removed)

Cusip No.:  91734F 10 8 (unchanged)

Effective at the open on Wednesday, Dec. 11, 2019, the shares of the company will resume trading.