VANCOUVER, BRITISH COLUMBIA--(Feb. 17, 2010) - Further to UC Resources Ltd. (the "Company") (TSX VENTURE:UC) two news releases dated January 25, 2010, the Company is pleased to announce it has received TSX Venture Exchange approval for and closed its private placement of 9,750,000 units, at a price of $0.08 per unit, to raise proceeds of $780,000.
The Company paid a finder's fee to Jason Shepherd in cash of $49,000 and finder's warrants exercisable to purchase 612,500 shares, at a price of $0.11 per share, for a period of one year from closing, expiring February 15, 2011.
All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units, and finder's warrants and any shares issued upon exercise of the finder's warrants are subject to a hold period and may not be traded in Canada until June 16, 2010, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
On Behalf of the Board of Directors,
Jim Voisin, President and CEO
We seek safe harbour.
Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
FOR FURTHER INFORMATION PLEASE CONTACT:
UC Resources Ltd.
Damien Lowry
Vancouver Head Office
Toll Free: 1-800-366-8566 (Canada & USA)
www.ucresources.net
Neither the 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.
