Uracan Resources Closes Private Placement, Raising $1.46 Million

Uracan Resources (TSXV:URC) announced it had closed a private placement of roughly 14.6 million flow through units for $876,200, 2.05 million non flow through units for $102,852 and 9.69 million non-flow through units for $484,500. The proceeds will be used to incur eligible Canadian exploration expenses and the non-flow through unit proceeds will be used for general working capital.

According to the press release:

(Uracan) announces that it has closed its non-brokered private placement of 14,603,332 flow through (“FT”) shares at a price of $0.06 per share for gross proceeds of $876,200, and 2,057,030 non flow though (“NFT”) shares at a price of $0.05 per share for gross proceeds of $102,852, and 9,690,000 non-flow through units at a price of $0.05 per unit for gross proceeds of $484,500. Each non-flow through unit consists of one common share and one half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.07 per common share until November 25, 2015.

Click here to read the Uracan Resources Ltd. (TSXV:URC) press release