VANCOUVER, Nov. 20, 2012 /CNW/ - Uracan Resources Ltd. (TSX.V:URC)
("Uracan" or the "Company") today announced that, subject to the
approval of the TSX Venture Exchange, it intends to settle $472,733.62
in outstanding indebtedness through the issuance of an aggregate of
9,454,671 common shares at a price of $ 0.05 per share. $81,330.27 of
this indebtedness will be to certain officers and directors of the
Company. The shares issued under the debt settlement will be subject
to a hold period of four months and one day from the date of issuance.
Uracan Resources Ltd. (TSX.V:URC, OTC:URCFF) is a Canadian-based
exploration company focused on developing bulk tonnage, near-surface
uranium deposits within its two 100%-owned projects in Quebec and
Saskatchewan, Canada. Since 2006, Uracan has discovered a NI 43-101
compliant mineral resource of over 44 million lbs. U3O8. Uracan
continues to actively pursue new opportunities to capitalize on
management's exploration and financing capabilities.
On Behalf of the Board of Directors,
Gregg J. Sedun, Chairman & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: URACAN RESOURCES LTD.
For further information:
For further information, please visit www.uracan.ca