Upper Canada Mining Announces $25 Million Standby Equity Funding Facility
11/19/21, 9:40 AM
Location
calgary
Money raised
$25 million
Upper Canada Mining (UCM or UC Mining or the Company) is pleased to announce that a $25,000,000 standby equity funding facility has been arranged with US-based institutional investment group LDA Capital (LDA).The facility can be drawn at the discretion of the Company and will be used to advance the Company’s ongoing expansion, exploration and acquisition activities.The Company has executed a Put Option agreement (POA) with LDA which will provide flexibility for the Company to access additional equity as required at the Company’s election.The facility enables the Company to issue shares to LDA over the next 3 years at the Company’s discretion and receive funds for issue of those shares under the following key terms: