Ubique Minerals Closes Private Placement Financing, and Provides More Detail of Investor Relations Contract
TORONTO, Dec 31, 2020 - Ubique Minerals Ltd. ("Ubique") (CSE:UBQ) has closed the private placement which it announced by press release dated December 1st, 2020, after raising $70,000.00. As previously announced on December 1st, 2020, Proconsul Capital Ltd has been retained to provide investor relations services for the company. The contract provides for monthly service periods and with the company having the right to terminate the contract by giving a 30-day notice at any time. The monthly fee for their services is $5,000.00 and in addition they have been granted 210,000 options for Ubique common shares with a strike price of $0.075 per share with one third of the options vesting on the grant date and the balance equally on the next two anniversary dates.
The private placement which has been closed was comprised of up to $350,000 of Common Share Units at $0.07 per Unit and up to $1,000,000 of Flow Through Units at $0.10 per Flow Through Unit. Each of the Common Share Units consists of one common share in the capital of Ubique and one common share purchase warrant, with each whole warrant being exercisable at a price of $0.15 per common share for a period of 24 months from the date of issuance. Each Flow Through Units consists of one common share in the capital of Ubique issued on a flow through basis pursuant to the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each whole warrant is exercisable at a price of $0.15 per common share for a period of 24 months from the date of issuance. All the common share units subscribed for were for "hard dollar" units and were subscribed for by an officer and director of the Corporation.
About Ubique Minerals Limited.
Ubique Minerals Ltd. is a zinc exploration company listed on the CSE (CSE:UBQ). It has focused on exploration of its 100% owned Daniel's Harbour zinc property in Newfoundland, and was initially funded by private equity including that from Greenbank Capital Inc (CSE:GBC and OTCMKTS:GRNBF and FRA:2TL). Ubique became a publicly listed company in September 2018. Ubique has undertaken three drilling programs on its Daniel's Harbour zinc project, all of which were successful in delineating zinc mineralization extending from the vicinity of former mine workings. Ubique has an experienced management group and owns an extensive database of historic exploration results from the Daniel's Harbour area. For more information on Ubique please contact Gerald Harper, CEO, at (416) 232-9114 or by email gharper@ubiquezinc.com or see the website at www.ubiqueminerals.com.
Dr. Gerald Harper, P.Geo.(NL), the CEO of Ubique, is the qualified person as defined by NI 43-101 responsible for the technical data presented herein and has reviewed and approved this release.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Ubique Minerals Ltd.., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Ubique can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Ubique disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Ubique Minerals Ltd.