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UC Resources Ltd. Announces Private Placement
June 27, 2005
Vancouver, B. C. June 27, 2005 – UC Resources Ltd. (the “Company”) has arranged a non brokered private placement of up to 18,000,000 units at a price of Cdn. $0.10 per unit (the “Units”).
Each Unit will consist of one common share of the Company and one common share purchase warrant, each warrant (“Warrant”) entitling the holder to purchase one common share of the Company at an exercise price of Cdn. $0.125 per share for a period of 18 months from the closing date of the private placement.
The Company will pay a finder’s fee consisting of cash equal to 10% of the aggregate subscription price for any Units sold in accordance with TSX Venture Exchange policies. The proceeds of the private placement will be used for acquisitions, debt settlement, exploration and working capital.
In addition, the Company has granted incentive options for a total of 1,100,000 shares to directors, employees and consultants. The options are exercisable at a price of $0.10 per share for a period of two years, subject to regulatory approval.
UC Resources Ltd. is a Canadian junior exploration and development company with offices in Vancouver, B.C., Canada and Durango, Mexico. The Company has recently completed phase 1 of its exploration plans on the 17,401-acre (27 square mile) silver/gold property location within the Sierra Madre mineralogical belt in the State of Durango, Mexico.
On behalf of the board of directors,
Richard J. Hamelin, President/Director
For further information, please contact:
| Vancouver |
William Elston
Tel: (604) 681-7265
Fax: (604) 691-1761
E-mail: info@ucresources.net
Website: www.ucresources.net
Toll Free: 1-800-366-8566
(Canada & USA) |
#507 – 595 Howe Street
Vancouver, B.C.
V6C 2T5 Canada |
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings what are available at www.sedar.com.
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