Mr. Matthew Rhoades reports
UNITED BATTERY METALS ARRANGES $500,000 PRIVATE PLACEMENT
United Battery Metals Corp. expects to issue, by way of a non-brokered private placement, up to 435,000 units at a price of $1.15 per offered unit for total gross proceeds of up to $500,000.
Each offered unit shall consist of one common share of the company and one-half of one common share purchase warrant, whereby each whole warrant shall entitle the holder thereof to acquire one additional common share of the company for a total period of 24 months at a price of $1.25 per warrant share. The offered units will be subject to a statutory hold period of four months following the date of issuance.
The net proceeds from the offering will be used for continued exploration of the company's Wray Mesa vanadium property and general and administrative expenses.
The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange, and such further restrictions as may apply under foreign securities laws.
We seek Safe Harbor.
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