last 1.70, pp at 1.20I am trying to figure out these pp's. Generally the share price retreats to near the pp price until the pp closes. What are the rules on pp's? I suspect the pper is allowed to short sell the stock before the pp closes, but after the pp closes he is not allowed to, he is subject to the hold periods. Based on that we will see 1.20. Then after the pp closes the share price will move up.
Ultra Uranium to raise $2.4-million privately
2006-12-29 14:56 CT - News Release
Mr. Raymond Roland reports
$2,400,000 PRIVATE PLACEMENT
Ultra Uranium Corp. has agreed to a non-brokered private placement financing of $2.4-million comprising up to two million units at $1.20 per unit. Each unit consists of one common share and one transferable warrant entitling the holder to purchase one additional share for $1.80 per share for a period of two years from the closing date. The warrants will be subject to an accelerated expiry, wherein the expiry period of the warrants may be reduced, upon notice to holders and at the election of the company, if the closing price of the shares is equal to or greater than $2.80 per share for 10 consecutive trading days after any applicable hold periods. If this condition is met and the company so elects, the exercise period will be reduced to 25 business days from the date notice is provided by the company to the warrantholders.
This financing is subject to regulatory acceptance for filing. Finders' fees may be paid to accredited agents on that portion of the funds raised by third parties in cash or units. The shares issued under this financing will be subject to a hold period of four months plus one day from the date of closing of the offering. Funds from the financing will be used for exploration, working capital and general corporate purposes.
We seek Safe Harbor.