{"id":196021,"date":"2021-11-19T14:41:28","date_gmt":"2021-11-19T14:41:28","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=82843"},"modified":"2021-11-19T14:41:28","modified_gmt":"2021-11-19T14:41:28","slug":"upper-canada-mining-announces-25-million-standby-equity-funding-facility","status":"publish","type":"post","link":"https:\/\/taiwannewswire.com\/upper-canada-mining-announces-25-million-standby-equity-funding-facility\/","title":{"rendered":"Upper Canada Mining announces $25 million Standby Equity Funding Facility"},"content":{"rendered":"<div>\n<p>CALGARY, Alberta, Nov. 19, 2021 (GLOBE NEWSWIRE) &#8212; 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).<\/p>\n<p>The facility can be drawn at the discretion of the Company and will be used to advance the Company\u2019s ongoing expansion, exploration and acquisition activities.<\/p>\n<p>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\u2019s election.<\/p>\n<p>The facility enables the Company to issue shares to LDA over the next 3 years at the Company\u2019s discretion and receive funds for issue of those shares under the following key terms:<\/p>\n<ul>\n<li>Term 36 months<\/li>\n<li>Put option of up to $25 million at the Company\u2019s election<\/li>\n<li>The Put option is priced at 90% of the 15 day VWAP of the Company\u2019s shares following the exercise by the Company with a minimum price set by the Company<\/li>\n<li>In any Put Option period, the Company may issue a Put Option Notice for up to one thousand percent (1,000%) of the average daily trading volume for the fifteen (15) trading days prior to the Put Option Notice (\u201cTrading Volume\u201d).<\/li>\n<li>An Option Premium Fee equal to two percent (2.00%) of the Total Commitment, will be payable in cash upon proceeds from the Put Option exercises<\/li>\n<\/ul>\n<p>LDA can hold a maximum of 19.9 percent of the outstanding share capital of the Company.<\/p>\n<p>About Upper Canada Mining Inc.<br \/>\nUpper Canada Mining is a private company incorporated and registered in Canada that is in the business of mining, exploration and production, primarily in gold and silver.<\/p>\n<p>UCM recently executed an Option Agreement with Strategic Metals and is focused on the Mt. Hinton project in Yukon Territory.<\/p>\n<p>About LDA Capital<br \/>\nLDA Capital is a global alternative investment group with expertise in complex, cross border transactions worldwide. The LDA team members have dedicated their careers to international and cross border opportunities having collectively executed over 200 transactions in both the public and private markets across 42 countries with aggregate transaction values of over US$10 billion. For more information please visit: <a href=\"https:\/\/www.google.com\/url?q=http:\/\/www.ldacap.com&amp;source=gmail-html&amp;ust=1637419262639000&amp;usg=AOvVaw28gsyhckIdzCX3pSmBSxzU\"  rel=\"noreferrer\">www.ldacap.com<\/a>; For inquires please email: <a href=\"mailto:info@ldacap.com\"  rel=\"noreferrer\">info@ldacap.com<\/a><\/p>\n<p>For further information and updates contact:<br \/>\nJames Beals<br \/>\n<a href=\"mailto:ir@ucmining.com\"  rel=\"noreferrer\">ir@ucmining.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>CALGARY, Alberta, Nov. 19, 2021 (GLOBE NEWSWIRE) \u2014 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 [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Upper Canada Mining announces $25 million Standby Equity Funding Facility - Taiwan Newswire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taiwannewswire.com\/upper-canada-mining-announces-25-million-standby-equity-funding-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Upper Canada Mining announces $25 million Standby Equity Funding Facility - Taiwan Newswire\" \/>\n<meta property=\"og:description\" content=\"CALGARY, Alberta, Nov. 19, 2021 (GLOBE NEWSWIRE) \u2014 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). 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