"Not much we can do about this..except get our own cash flow from mine. Anyways the hold period comes off this one in June...so no some doubt investors in this PP will cash in on their shares and keep the warrants..it is done all the time. So my guess is a lot of selling we see comes from these PP's...which is all the more reason we need to keep our long term perspective..we also need to get Mill going so we don't have to rely on this type of financing..which floods the market with some of these shares every 3-4 months."

UC Resources closes $780,000 private placement

2010-02-17 17:55 ET - News Release

Mr. Jim Voisin reports

UC RESOURCES CLOSES PRIVATE PLACEMENT

Further to UC Resources Ltd.'s two news releases in Stockwatch dated Jan. 25, 2010, the company has received TSX Venture Exchange approval for and closed its private placement of 9.75 million units, at a price of eight cents per unit, to raise proceeds of $780,000.

The company paid a finder's fee to Jason Shepherd in cash of $49,000 and finder's warrants exercisable to purchase 612,500 shares, at a price of 11 cents per share, for a period of one year from closing, expiring Feb. 15, 2011.

All of the shares, warrants and any shares issued upon exercise of the warrants under the units, and finder's warrants and any shares issued upon exercise of the finder's warrants, are subject to a hold period and may not be traded in Canada until June 16, 2010, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

We seek Safe Harbor.