Uracan announces closing of its previously announced financing



    Trading Symbol: (TSX - V): URC

    VANCOUVER, Dec. 21 /CNW/ - Uracan Resources Ltd. has completed a private
placement of 12,860,000 units at $0.60 per unit for proceeds of $7,716,000
($5,262,000 of which constitutes flow through funds) as previously announced
on December 6, 2007. Each unit consists of a share and half of a warrant to
purchase an additional share at $1.00 until December 21, 2009.
    All securities issued pursuant to the private placement are subject to a
four month hold period expiring April 22, 2008.
    Proceeds from the private placement will be used to fund the ongoing
exploration programs at the Company's North Shore project in Quebec and its
Pipewrench Lake project in Saskatchewan, as well as for working capital.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release. The
    foregoing information may contain forward-looking statements relating to
    the future performance of Uracan Resources Ltd. Forward-looking
    statements, specifically those concerning future performance, are subject
    to certain risks and uncertainties, and actual results may differ
    materially. These risks and uncertainties are detailed from time to time
    in the Company's filings with the appropriate securities commissions





For further information:

For further information: Gregg J. Sedun, President and CEO, OR John
Sutherland, CFO, (604) 682-5580; Keith Schaefer, Vanguard Shareholder
Solutions Inc., (604) 608-0824, www.vanguardsolutions.ca

Organization Profile

Uracan Resources Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890