Ultra Lithium Closing of Financing

- February 18th, 2011

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.

Ultra Lithium Inc. (TSXV: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.

Click here to access the entire news release.

Click here to access Ultra Lithium’s company profile.

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