Usha Resources closes funding round for Canadian exploration

Usha Resources Ltd (TSX-V:USHA) has successfully closed a $249,999.96 non-brokered private placement, pending TSX Venture Exchange approval. This involved issuing 1,785,714 flow-through shares at $0.14 each, which qualify for tax benefits under the Income Tax Act (Canada). The company plans to use the funds for Canadian exploration expenses in Ontario before December 31, 2023. Finders' fees of $17,500 were paid, and 125,000 non-transferable finders' warrants were issued to GloRes Securities Inc., exercisable at $0.20 per share for two years.