Agoracom: Small Cap Investment - Upper Canyon Minerals Corp - Upper Canyon announces closing of $300,000 financing

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The objective of the Company is to enhance its value via high mineralization resource properties with a goal of turning them into commercial production.

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Upper Canyon announces closing of $300,000 financing

posted on Nov 10, 2011 12:18PM

Upper Canyon announces closing of $300,000 financing

(via Thenewswire.ca)

Vancouver, B.C. - Upper Canyon Minerals Corp. ("UCM" or the "Company") announces that further to our press releases dated October 1, 2011, UCM is pleased to announce the closing of a non-brokered private placement with gross proceeds of $300,000. The Company has issued 4,000,000 units at $0.0.75 per unit. Each unit consists of one common share of the Company (each, a "Share") and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share (each, a "Warrant Share") to purchase a total of up to 4,000,000 Shares, at a price of $0.10 per Warrant Share over a 12 month period expiring on November 10, 2012 (the "Private Placement").

The Shares issued in connection with the Private Placement are subject to a statutory hold period expiring on March 10, 2012.

The proceeds of the Private Placement will be used for general working capital.

For further information on Upper Canyon Minerals Corp., contact Tom Thomsen at (604) 628-1767, email: tthomsen@uppercanyon.net, or visit our website at www.uppercanyon.net.