• Usha Resources (USHA) has closed its oversubscribed non-brokered private placement for total gross proceeds of $1,541,000
  • Under the third tranche, the company issued 1,435,000 units priced at $0.30 per unit for gross proceeds of $430,500
  • Usha Resources Ltd. is a Canada-based mineral acquisition and exploration company
  • Usha Resources Ltd. (USHA) is currently trading at C$0.30 per share

Usha Resources (USHA) has closed its oversubscribed non-brokered private placement for total gross proceeds of $1,541,000.

Under the third tranche, the company issued 1,435,000 units priced at $0.30 per unit for gross proceeds of $430,500.

Each unit issued consists of one common share and one-half of one transferable share purchase warrant. Each whole warrant is exercisable for one common share for a period of 2 years.

The company paid finders’ fees totaling $34,440 cash and 114,800 non-transferable finder warrants to Canaccord Genuity Corp.

All securities issued in the third tranche are subject to a statutory hold period expiring on September 18.

Usha Resources Ltd. is a Canada-based mineral acquisition and exploration company focused on the development of battery and precious metal properties.

Usha Resources Ltd. (USHA) is currently trading at C$0.30 per share.