universal copper proceeds to close private placement
Vancouver, British Columbia, June 22, 2020 – Universal Copper Ltd. ("UNV", “Universal Copper” or the "Company") (TSX Venture symbol: UNV) wishes to announce that further to its price reservation on file with the TSX Venture Exchange (the "Exchange"), it is proceeding with a private placement of 2,000,000 Units ("Units") at $0.05 per Unit for gross proceeds of up to $100,000.00. Each Unit is comprised of one common share at $0.05 and one warrant exercisable at $0.07 per common share for three years from closing. The private placement has been conditionally approved by the TSX Venture Exchange.
There will be an 8% finders’ fee payable in the form of Units (with the same terms as the subscribers’ Units) to be paid on a portion of the funds raised. All securities to be issued will be subject to a four month and a day hold period. Use of proceeds will be for general working capital and to advance the Company’s projects.
The Company will issue a closing news release as soon as final Exchange acceptance has been received.
For additional information please visit the Company's website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO
For further information, please contact:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Universal Copper Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Universal Copper Ltd. management on the date the statements are made. Except as required by law, Universal Copper Ltd. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.