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Usha Resources Ltd. (“USHA” or the “Company”) (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, announces that subject to the approval of the TSX Venture Exchange (the “Exchange”), it intends to extend the expiration dates by one year on a total of 1,571,135 warrants (the “Warrants”) originally issued by the Company on October 21, 2020, November 23, 2020 and December 2, 2020 pursuant to non-brokered private placements.
The Warrants are subject to an acceleration provision that states: The Warrants expire the earlier of October 21, 2022, November 23, 2022 and December 2, 2022, as applicable, or 30 days after the date the Company provides notice to the holders indicating that the Company has determined to accelerate the expiry date of the Warrants, in its sole discretion, upon the common shares having a closing price of $0.75 or greater per common share on the Exchange (or such other exchange on which the Company’s common shares may become traded) during any thirty (30) consecutive trading day period at any time subsequent to four months and one day after the closing date (the “Accelerated Expiry Provisions”).
The Company wishes to extend the expiry date of the Warrants as set out in the above table, including the Accelerated Expiry Provisions by one year. All other terms and conditions of the Warrants, including the exercise price, remain the same.
About Usha Resources Ltd.
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Usha’s portfolio of strategic properties provides target-rich diversification and consist of Jackpot Lake, a lithium project in Nevada; Nicobat, a nickel-copper-cobalt project in Ontario; and Lost Basin, a gold-copper project in Arizona. Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.
Usha Resources LTD.
“Deepak Varshney” CEO and Director
For more information, please call Tyler Muir, Investor Relations, at 1-888-772-2452, email tmuir@usharesources.com, or visit www.usharesources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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