CSE:UBQ - Post Discussion
Post by
Betteryear2 on Feb 13, 2023 1:48pm
Ubique Provides NLZM Project Update and Private Placement
This news release is not for distribution or dissemination in the Unites States of America
TORONTO, ON / ACCESSWIRE / February 13, 2023 / Ubique Minerals Limited ("Ubique" or the "Company") (CSE:UBQ) announces updates on its Namib Lead and Zinc Mining Proprietary Ltd. project (the "NLZM Project"). The Company has signed Non-Disclosure Agreements ("NDAs") with 6 potential strategic partners towards securing offtake contracts for the production output from the NLZM Project. Terms of reference under discussion include financing of up to US$10 million in a combination of pre-payments, drawdown credit facility, and equity or other instruments to be primarily used towards the restart of production at the NLZM Project and related plant / production optimization and efficiency improvements.
The Company also announces a non-brokered private placement of up to 10,000,000 Units of the Company at a price of $0.15 per Unit for gross proceeds of up to $1,500,000 (the "Offering") under the Listed Issuer Financing Exemption ("LIFE Offering"). Each Unit will consist of one (1) common share in the capital of the Company and one (1) common share purchase warrant, with each common share purchase warrant granting the holder the right to purchase one (1) additional common share of the Company at a price of $0.20 per share for a period of 22 months from the closing date of the Life Offering. The primary use of funds from this private placement will be towards closing the previously announced NLZM transaction (refer press release dated September 6, 2022, for details) with the payment of US$1 million to CL US Minerals LLC (the "Vendor").
Ubique Provides NLZM Project Update and Announces Private Placement (accesswire.com)
Be the first to comment on this post