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Universal Copper Ltd
Symbol C : UNV
Shares Issued 25,972,272
Close 2019-04-15 C$ 0.10
Recent Sedar Documents

Universal Copper closes placements totalling $690,325

2019-04-16 01:52 ET - News Release

Mr. Clive Massey reports

UNIVERSAL COPPER CLOSES FT AND NFT PRIVATE PLACEMENTS FOR PROCEEDS OF $690,325

Further to the news release on March 22, 2019 (subject to the final acceptance of the TSX Venture Exchange), Universal Copper Ltd. (formerly Tasca Resources Ltd.) has closed its private placements of non-flow-through units and flow-through units, receiving subscriptions for aggregate gross proceeds of $690,325.

In the private placement, Universal Copper sold 6,005,000 NFT units at a price of 6.5 cents per NFT unit for gross proceeds of $390,325 and four million FT units at a price of 7.5 cents per FT unit for gross proceeds of $300,000 for aggregate gross proceeds of $690,325. Each NFT unit is composed of one common share of the company and one share purchase warrant. Each NFT unit warrant entitles the holder to purchase one additional common share of the company at an exercise price of 10 cents per common share for a five-year term expiring at 4:30 p.m. Pacific Time on April 14, 2024.

Each FT unit is composed of one common share of the company and one share purchase warrant. Each FT unit warrant entitles the holder to purchase one additional common share of the company at an exercise price of 10 cents per common share (which will not be a flow-through share) for a two-year term expiring at 4:30 p.m. Pacific Time on April 14, 2021.

Two independent directors of the company subscribed for a total of 1.25 million NFT units sold in this private placement.

We seek Safe Harbor.

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