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Usha Resources Ltd. (USHAF) is a North American mineral acquisition and exploration company, focused on developing quality lithium metal properties with high upside and expansion potential. The company's flagship projects include the White Willow Lithium Pegmatite Project in Ontario and the Jackpot Lake lithium brine project in Nevada. With a strategic focus on acquiring and monetizing undervalued assets, Usha Resources aims to create significant shareholder value through the development of advanced-stage copper and gold projects. By expanding its portfolio with projects like the Abiwin lithium pegmatite property, Usha Resources continues to capitalize on the rapidly growing lithium metal and green energy markets in Canada and beyond.
Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF) announces the unanimous Board approval for a spin-out transaction involving its subsidiary Formation Metals Corporation. USHA shareholders will receive one share of FMC for every five shares of USHA held on a predetermined record date. The arrangement aims to separate USHA's focus on U.S. assets, including the Jackpot Lake lithium project, while FMC will target the Nicobat Nickel property. Approval by shareholders, the Supreme Court of British Columbia, and the TSX Venture Exchange is required for completion.
Usha Resources Ltd. (TSXV:USHA) has commenced trading on the Frankfurt Stock Exchange (FSE) under the symbol JO0. This strategic move aims to enhance visibility and attract European investors, particularly following the acquisition of the Jackpot Lake Lithium Project. The project, located near Las Vegas, Nevada, consists of 140 mineral claims and is positioned for drilling, targeting potentially lithium-rich brines. Usha's diverse portfolio also includes the Nicobat Nickel Project and the Lost Basin Gold Project.
Usha Resources Ltd. has received final approval from the TSX Venture Exchange for its acquisition of 140 mineral claims in Jackpot Lake, Nevada, from Ares Strategic Mining Inc. This agreement, valued at 1,678,062 common shares priced at $0.30 each, positions USHA as a key player in North American battery metals exploration. The company plans an aggressive drilling program aimed at completing a 43-101 resource estimate by Q4 2022, focusing on lithium-rich brines within the property.
Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has amended its option agreement with Ares Strategic Mining Inc. to acquire a 100% interest in 140 mineral claims at Jackpot Lake, Nevada. The maximum potential shares for the 2nd and 3rd payments have been decreased from 3,000,000 to 1,875,000, while cash payments remain unchanged at $225,000 per installment. The project aims to explore lithium-rich brines, with previous surveys indicating significant lithium potential. An aggressive exploration program is planned to explore higher concentration zones and complete a 43-101 resource estimate by Q4 2022.
Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has engaged Red Cloud Securities Inc. for market-making services and TMM Capital Advisory for investor relations, aiming to enhance shareholder communication and market liquidity. Effective April 15, 2022, Red Cloud will provide trading support for a fee of $12,000 per month. Meanwhile, TMM's Tyler Muir will assist in investor communications for a monthly fee of $3,500, which includes a grant of stock options. CEO Deepak Varshney emphasized the company's pivotal growth stage as it develops its portfolio of battery and precious metal projects.
Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has engaged Volt Strategic Partners as its capital markets and communications advisor, with a compensation package of $93,600 and 250,000 stock options. This partnership aims to bolster market awareness as the company transitions into the battery metals space with the acquisition of Jackpot Lake, a lithium project in Nevada. Additionally, Usha has initiated a non-brokered private placement, raising $230,800 by issuing 769,333 units at $0.30 each, with plans to raise up to $300,000 in total.
Usha Resources Ltd. (TSX-V:USHA)(OTCQB:USHAF) has entered into an option agreement with Ares Strategic Mining Inc. to acquire a 100% interest in 140 mineral claims in Jackpot Lake, Nevada. This area may contain lithium-rich brines, similar to established projects like Albemarle's Silver Peak. Usha plans to undertake an aggressive exploration program, including drilling, to confirm the presence of lithium and to complete a resource estimate by Q4 2022. Financial terms include a total of $1 million in payments and a commitment to spend $1 million on exploration within two years.
Usha Resources Ltd. (USHAF) has announced a drilling contract for its maiden program at the Lost Basin Gold-Copper Project in Arizona. The company plans to conduct 1,500 meters of diamond core drilling in two phases, starting with reconnaissance visits for site preparation. Key areas of interest include Red Basin, Copper Blowout, Mallory's Trench, and Ideas Lode West, each showing promising assay results. The project aims to enhance exploration efforts in a mining-friendly jurisdiction and is expected to drive a busy year for Usha Resources as it explores multiple mineral properties.
Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF) plans to spin out its Nicobat Nickel property into a new subsidiary, SpinCo, distributing its shares to current shareholders. CEO Deepak Varshney highlighted the opportunity to unlock value amid soaring nickel prices. The transaction is contingent on corporate, legal, and regulatory approvals, as well as financing for SpinCo. The historic Nicobat Nickel Property in Ontario reportedly holds a non-compliant resource of 5.3 million tons at 0.24% nickel. The announcement aims to enhance market recognition and project focus.
Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF) has entered into an advertising and investor awareness campaign with Investing News Network (INN), aimed at increasing the company's visibility among investors. The agreement involves a total payment of $29,000, made in monthly installments. INN will utilize various marketing strategies to engage its audience, although it does not provide investor relations services according to TSXV policies. Usha Resources is focused on mineral exploration in Canada and the U.S., targeting nickel, copper, and gold deposits.
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