Key Developments: Ultra Lithium Inc (ULI.V)

ULI.V on TSX Venture Exchange

0.03CAD
22 Dec 2014
Price Change (% chg)

-- (--)
Prev Close
$0.03
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
43,347
52-wk High
$0.06
52-wk Low
$0.02

Search Stocks

Latest Key Developments (Source: Significant Developments)

Ultra Lithium Inc Enters Into Letter Of Intent For South Big Smoky Valley, Nevada Joint Venture
Monday, 28 Oct 2013 09:15am EDT 

Ultra Lithium Inc announced that it has signed a non-binding Letter of Intent (LOI) with CCG Mining (Canada) Inc. (CCG) with respect to a joint venture to explore and develop ULI's South Big Smoky Valley claims located in Nevada, USA (the Property). Under the terms of the LOI, CCG undertakes and commits to fund up to $2,000,000 of qualifying exploration expenditures in the Property to acquire up to a 35% equity interest in the joint venture over a period of three years. CCG will earn a 10% equity interest for a $500,000 investment in the first year, an additional 10% equity interest for a $500,000 investment in the second year and an additional 15% equity interest for a $1,000,000 investment in the third year. Upon CCG's full exercise of its option, the joint venture will be owned 65% by ULI and 35% by CCG.  Full Article

Ultra Lithium Inc Commences Drilling At Balkans Lithium And Boron Properties In Serbia
Thursday, 25 Jul 2013 09:15am EDT 

Ultra Lithium Inc announced that drilling has commenced on the Company's lithium and boron targets in Serbia. The initial phase of drilling will consist of approximately 3,500 meters of core in 7 holes testing anomalous AMT targets in the Blace and Valjevo East prospecting licenses. The first four drill holes will test the Blace prospecting license, and the subsequent three drill holes will test targets at the Valjevo East prospecting license. The Company has commissioned a second drill rig which will be mobilized to the property within the next 2 weeks.  Full Article

Ultra Lithium Inc Finalizes Joint Venture Terms With BGMI on Balkans Project in Serbia
Tuesday, 18 Jun 2013 09:15am EDT 

Ultra Lithium Inc announced that further to its earlier news release the Company has finalized terms with Beijing Guofang Mining Investment Co., Ltd. (BGMI) for the joint exploration and development of Ultra's Balkans project. Under the terms of the arrangement, a new Canadian company has been incorporated, Ultra Dragon Holdings Inc. (Ultra Dragon), which will hold the Balkans exploration licenses. BGMI may earn up to a 35% participating interest in Ultra Dragon by funding up to $3,500,000 of exploration expenditures (Earn-in funds) on the Balkans project. BGMI will earn a 5% participating interest for each tranche of $500,000 of the Earn-in funds to a maximum of 35% within a period of 3 years. Ultra Dragon has received the initial capital from BGMI of $500,000 for a 5% interest in Ultra Dragon. During the Earn-in period, all exploration expenditures will be funded by the Earn-in funds. After the Earn-in period, each of Ultra and BGMI will contribute for its proportionate share of exploration expenditures based on their 65% and 35% participating interests.  Full Article

Ultra Lithium Inc Completes Second Tranche of Private Placement
Monday, 29 Apr 2013 09:10am EDT 

Ultra Lithium Inc announced that it has closed the second and final tranche of its non-brokered private placement first announced on January 21, 2013. The Company has raised an additional $2,000,000 through the issuance of 40,000,000 units at $0.05 per unit. Combined with the first tranche which closed on March 12, 2013, Ultra has raised a total of $4,500,000. Each unit consists of one common share and one-half of one common share purchase warrant (Warrant) of the Company. Each whole Warrant entitles the holder to acquire an additional common share of the Company at an exercise price of $0.10 per share for a period of two years from the date of issuance of the Warrant. Ultra agreed to pay aggregate finders' fees of $67,500 and 6,750,000 shares, being 9% of the total gross proceeds raised on the private placement. All securities issued under this tranche of the private placement will be subject to a four month hold period expiring August 30, 2013, pursuant to applicable Canadian securities laws and the policies of the TSX Venture Exchange (Exchange). The net proceeds from the private placement will be used primarily to fund the exploration and development of the Company's Balkans Project in the Republic of Serbia and for general working capital purposes.  Full Article

Ultra Lithium Inc Closes First Tranche Of Private Placement
Tuesday, 12 Mar 2013 01:59pm EDT 

Ultra Lithium Inc announced that it has closed the first tranche of its $4.5 million non-brokered private placement previously announced on January 21, 2013. Ultra Lithium raised $2,500,000 through the issuance of 50,000,000 units at a price of $0.05 per unit. Each unit consists of one common share and one common share purchase warrant of the Company. Each warrant entitles the holder to acquire an additional common share of the Company at $0.10 per share at any time until March 12, 2015. The proceeds from the private placement will be used primarily to fund the exploration and development of the Company's Balkans Project in the Republic of Serbia and for general working capital purposes.  Full Article

Ultra Lithium Inc Arranges Financing
Thursday, 24 Jan 2013 04:05pm EST 

Ultra Lithium Inc announced that it has arranged for a non-brokered private placement of units (the Units) of securities of the Company at a price of $0.05 per Unit for gross proceeds of up to $4,500,000. Each Unit will consist of one common share of the Company and one common share purchase warrant (Warrant). Each Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.10 per share for a period of two years from closing of the private placement. Finders' fees may be payable in connection with this private placement in accordance with the policies of the TSX Venture Exchange (Exchange). The proceeds from the private placement will be used primarily to fund the exploration and development of the Company's Balkans Project in the Republic of Serbia and for general working capital purposes.  Full Article

No consensus analysis data available.
Search Stocks