Ubique Announces Private Placement

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TORONTO, ON / ACCESSWIRE / August 21, 2023 / Ubique Minerals Limited ("Ubique" or the "Company") (CSE:UBQ)(FRA:2UM) announces a non-brokered financing of up-to $1,200,000. The previously announced funding from February 13, 2023 has been cancelled.

Ubique announces a non-brokered private placement of up to 15,000,000 Units of the Company at a price of $0.08 per Unit for gross proceeds of up to $1,200,000 (the "Offering") under the listed issuer financing exemption ("LIFE Offering"). Each Unit will consist of one (1) common share in the capital of the Company and one (1) common share purchase warrant, with each common share purchase warrant granting the holder the right to purchase one (1) additional common share of the Company at a price of $0.15 per share for a period of 24 months from the closing date of the Offering. The Offering may be closed in tranches.

The Unit Shares and Warrants issued to purchasers subscribing under the Listed Issuer Financing Exemption are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers residing in Canada.

The Unit Shares and Warrants issued to purchasers subscribing under prospectus exemptions other than the "listed issuer financing exemption" shall be subject to applicable resale restrictions under National Instrument 45-102 - Resale of Securities.

It is anticipated that insiders of the Company may participate in the Offering. By virtue of their participation, the Offering would constitute a "related party transaction" under applicable securities laws. The Company expects to release a material change report including details with respect to the related party transaction less than 21 days prior to the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner. As the related party transaction will not exceed specified limits and will constitute a distribution of securities for cash, it is expected that neither a formal valuation nor minority shareholder approval will be required in connection with the Offering.