ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

UQ

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:UQ TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Unique Resources Corp. Closes IPO

30/03/2012 7:20pm

Marketwired Canada


Unique Resources Corp. (the "Company") (TSX VENTURE:UQ) is pleased to announce
that it has completed its initial public offering ("IPO") of 5,500,000 common
shares, at a price of $0.15 per common share, for aggregate gross proceeds of
$825,000 (the "IPO"). The proceeds of the IPO will be expending on the Company's
Lucifer Property, an early stage copper-gold porphyry style property located in
the Skeena mining district of British Columbia, and as described in the
Company's prospectus dated February 6, 2012 as filed on SEDAR. The Company's
common shares are now listed on the TSX Venture Exchange (the "TSXV") subject to
a halt and the Company expects that the halt will be lifted and that the
Company's common shares will commence trading on the TSXV on April 3, 2012 under
the trading symbol "UQ".


Wolverton Securities Ltd. acted as agent on the IPO. As consideration for
assisting in completing the IPO, the Company: (i) paid an 8% marketing
commission payable in cash; (ii) paid a corporate finance fee (plus applicable
taxes) of $25,000 consisting of $22,000 (plus applicable taxes) and the issue of
common shares of the Company at the rate of one common share for each $0.15 of
corporate finance fee, being 20,000 common shares of the Company; (iii) issued
options (the "Agent's Options") to acquire 440,000 common shares of the Company
(exercisable at $0.15 per share until March 30, 2014); and (iv) paid the Agent's
expenses as incurred.


As a result of the closing of the IPO, the Company now has 14,020,000 common
shares issued and outstanding (of which 4,000,000 shares and 2,000,000 warrants
are subject to escrow restrictions). The Company also has an aggregate 7,190,000
shares reserved for issuance pursuant to: (i) the exercise of 6,500,000
outstanding share purchase warrants exercisable at $0.15 per share expiring
March 30, 2017; (ii) 440,000 shares reserved for issuance pursuant to exercise
of the Agent's Options; and (iv) 250,000 shares to be issued assuming the
Company exercises its option to acquire 100% of the Lucifer Property.


The board of directors consists of Gary Freeman, Darryl Cardey, Cale Moodie and
James Dawson. Gary Freeman is the President, CEO and Secretary and Darryl Cardey
is the CFO.


ON BEHALF OF THE BOARD

Gary Freeman, President, CEO and Secretary

This press release includes "forward-looking statements" that are subject to a
number of assumptions, risks and uncertainties, many of which are beyond the
control of the Company. Statements related to the listing of the Company's
common shares on the TSX Venture Exchange and the use of the proceeds of the IPO
are subject to all of the risks and uncertainties normally incident to such
events. Investors are cautioned that any such statements are not guarantees of
future events and that actual events or developments may differ materially from
those projected in the forward-looking statements. Such forward-looking
statements represent management's best judgment based on information currently
available. The Company does not update forward-looking statements, except as
required by applicable law.


1 Year Chart

1 Year  Chart

1 Month Chart

1 Month  Chart