Uragold Closes Non-Brokered Private Financing
Montreal, Quebec / TheNewswire / June 8, 2015 - Uragold Bay Resources Inc. ("Uragold") (TSX Venture: UBR) is pleased to announce that it has closed on June 8, 2015 a non-brokered private placement comprised of 5,115,750 Units ("Unit") at $0.05 per Unit for gross proceeds of $255,788. The net proceeds from the Private Placement will be used for general corporate expenditures.
Each Unit is comprised of one (1) common share and one (1) common share purchase warrant ("Warrant") of the Company. Each Warrant will entitle the holder thereof to purchase one common share of the capital stock of the Company at an exercise price of $ 0.07 during a period of 36 months from the date of closing of the placement. Each share issued pursuant to the placement will be subject to an Exchange hold period until October 8, 2015.
SIDEX subscribed for $50,000 (1,000,000 Units) under their Action-Terrain 2015 program. SIDEX is a limited partnership that finances mineral exploration companies working in Quebec. They are sponsored by the Quebec government and the Fonds de solidarite FTQ
Patrick Levasseur, President and COO of UBR stated, "We are extremely please that for the second year in a row, SIDEX has participated in our financing to advance the exploration of our high purity quartz projects."
About UBR- Quebec Quartz
UBR- Quebec Quartz is the largest holder of distinct High Purity Quartz properties in Quebec. Despite the abundance of quartz, very few deposits are suitable for high purity applications.
Quebec Quart's objective is to transform its High Purity Quartz into Ultra High Purity Quartz Sands to generate significantly greater profits and become a leading supplier of Ultra High Purity Quartz.
Quartz from the Roncevaux property successfully passed rigorous testing protocols of a major silicon metal producer confirming that our material is highly suited for their silicon metal production.
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up and that could potentially generate high yield returns. Uragold will reach these goals by developing Quebec's first paleoplacer mine in 50 years, the Beauce Placer Project and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S un der the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
www.uragold.com
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