Ubique Minerals Engages Proconsul Capital for Investor Relations Services, Completes Diamond Drilling Program and Announces Private Placement
TORONTO, Dec 1, 2020 - Ubique Minerals Ltd. ("Ubique") (CSE:UBQ) has entered into a contract with Proconsul Capital Ltd to provide investor relations services. Diamond drilling has been completed at the Daniel's Harbour Property in Newfoundland and the drill demobilized after completion of eleven drill holes. A private placement is announced to raise up to $1,350,000 comprising Common Share Units and Flow Through Units. The diamond drilling program was started later than planned due to the late arrival of the equipment and as a result ran into colder than expected weather resulting in freezing problems so the program was cut back to testing only three targets. Two holes probing for extensions of the PE Zone were both successful and core samples have been sent for assay. Six short holes were then drilled in a new target area, the "2160 Zone" to look for shallow, potentially open pittable zinc mineralization. Five holes intersected visible zinc mineralization and assay results are awaited. Finally the drill was moved to the Nose Zone where historic drilling was confirmed in 2019 and three holes extended the zone to the northeast. Assays are awaited. The 2160 Zone and Nose Zone are on Mineral Licenses under option from Ophir Gold Corp (formerly MinKap Resources Inc.).
Proconsul Capital Ltd has been retained to provide investor relations services for the company. The contract provides for monthly periods and with the company having the right to terminate the contract on 30 days notice at any time. Gerald Harper, Ubique's CEO said that "he was very pleased to have Proconsul working with us as the company needs help to provide the investment community with an appreciation of the significant value of our zinc assets in Newfoundland".
The company is undertaking a private placement to raise up to $1,350,000 comprising up to $350,000 of Common Share Units at $0.07 per Unit and up to $1,000,000 of Flow Through Units at $0.10 per Flow Through Unit. Each of the Common Share Units consists of one common share in the capital of Ubique and one common share purchase warrant, with each whole warrant being exercisable at a price of $0.15 per common share for a period of 24 months from the date of issuance. Each Flow Through Units consists of one common share in the capital of Ubique issued on a flow through basis pursuant to the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each whole warrant is exercisable at a price of $0.15 per common share for a period of 24 months from the date of issuance. The closing date will be prior to year end 2020. The primary use of proceeds will be to accelerate the exploration work on the Daniel's Harbour Property with the objective of being able to undertake a formal estimate of resources outlined on the property.
About Ubique Minerals Limited.
Ubique Minerals Ltd. is a zinc exploration company listed on the CSE (CSE:UBQ). It has focused on exploration of its 100% owned Daniel's Harbour zinc property in Newfoundland, and was initially funded by private equity including that from Greenbank Capital Inc (CSE:GBC and OTCMKTS:GRNBF and FRA:2TL). Ubique became a publicly listed company in September 2018. Ubique has undertaken three drilling programs on its Daniel's Harbour zinc project, all of which were successful in delineating zinc mineralization extending from the vicinity of former mine workings. Ubique has an experienced management group and owns an extensive database of historic exploration results from the Daniel's Harbour area. For more information on Ubique please contact Gerald Harper, CEO, at (416) 232-9114 or by email gharper@ubiquezinc.com or see the website at www.ubiqueminerals.com
Dr. Gerald Harper, P.Geo.(NL), the CEO of Ubique, is the qualified person as defined by NI 43-101 responsible for the technical data presented herein and has reviewed and approved this release.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Ubique Minerals Ltd.., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Ubique can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Ubique disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release is not for distribution or dissemination in the Unites States of America
SOURCE: Ubique Minerals Ltd.
