Ultra Lithium Inc Arranges Financing

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.