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Ultra Lithium Inc. (CVE:ULI) reports that it has closed its non-brokered private placement of 7,500,000 units for gross proceeds of $750,000.
The press release is quoted as saying:
Each unit consists of one common share and one-half common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share of the Company at $0.10per share at any time until February 17, 2013. The expiry date of the warrants may be accelerated by the Company if its shares trade at $0.20 or higher for 10 consecutive trading days.