VANCOUVER, British Columbia, April 16, 2021 (GLOBE NEWSWIRE) -- Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or the "Company") further to the Company’s April 7, 2021 and April 8, 2021 news releases that it has closed a non-brokered private placement the Company corrects the private placement to 10,892,900 units at $0.11 per unit for total gross proceeds of $1,198,219. Each Unit is comprised of one common share and one-half non-transferable common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.20 per share for a period of one year from closing of the private placement provided that if the closing price of the common shares of the Company on any stock exchange or quotation system on which the common shares are then listed or quoted is equal to or greater than Cdn $0.25 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry of the warrants by giving notice to the holders of the warrants that the warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than ten (10) business days from the date notice is given. The Company shall pay finders fees of $77,523 cash and 704,753 finders warrants for a portion this placement.
Ultra Resources Inc. Updates Closing of Private Placement
Apr 17, 2021
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