Usha Resources Receives $883,330 From Warrant Exercises
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
News Release
Usha Resources Receives $883,330 From Warrant Exercises
Vancouver, British Columbia / December 8, 2021 – Usha Resources Ltd. (“USHA” or the
“Company”) (TSXV: USHA) (OTCQB: USHAF) is pleased to announce that it has received proceeds of
$883,330 from the exercise of 4,207,000 warrants. The exercised warrants were originally issued as part of
the Company’s go-public financing. All warrants issued as part of the go-public financing were exercised.
Navin Varshney, a director of the Company, exercised 364,300 warrants, increasing his shareholdings to a
total of 2,440,600 common shares of the Company.
Deepak Varshney, CEO of the Company, exercised 163,400 warrants , increasing his shareholdings to a
total of 1,568,800 common shares of the Company.
The Company has now raised $1,755,130.40 in the current quarter inclusive of the $890,300.40 in gross
proceeds raised as part of the first tranche of the Company’s n on-brokered private placement (the “Private
Placement”) and other warrants exercised during the quarter, greatly strengthening its balance sheet moving
forward as it continues to develop its Lost Basin Gold-Copper Project located in Mohave County, Arizona
through ongoing exploration.
"We are very pleased with this strong show of support from our existing long-term shareholders as we
continue to move forward with our strategy to further explore o ur Lost Basin Asset," stated Deepak
Varshney, P.Geo., CEO. “The proceeds from the warrant exercises and our initial tranche provide the
Company with excellent financial footing and flexibility as we launch our 2022 exploration program. We
are grateful for the ongoing support and very much look forward to an exciting year ahead.”
About Usha Resources Ltd.
Usha Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC,
Canada. Usha is exploring for commercially exploitable mineral deposits and is currently focused on
deposits located in Northwest Ontario, Canada and the Lost Basin Gold Mining District in Mohave County,
Arizona, U.S.A. Usha increases shareholder value through the ac quisition and exploration of quality
precious and base metal properties and the application of advan ced state-of-the-art exploration methods.
Usha's portfolio of strategic properties provides diversification and mitigates investment risk.
We seek Safe Harbor.
USHA RESOURCES LTD.
“Deepak Varshney” CEO and Director
For more information, please phon e James Berard, Investor Relat ions, at 778-228-2314, email
[email protected], or visit www.usharesources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Forward-looking statements:
This news release may include "forward-looking in formation" under applicable Canadian securities
legislation. Such forward-looking information re flects management's current beliefs and are based on a
number of estimates and/or assumptions made by and information currently available to the Company that,
while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that
may cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking information. Read ers are cautioned that such forwar d-looking information are neither
promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not
limited to, general business, economic, competitive, political and social uncertainties, uncertain and
volatile equity and capital markets, lack of availabl e capital, actual results of exploration activities,
environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays
in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company . Exploration is highly speculative in nature,
involves many risks, requires substantial expenditu res, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermo re, the Company currently has no reserves on any of its
properties. As a result, there can be no assurance that such forward-looking statements will prove to be
accurate, and actual results and fu ture events could differ materially from those anticipated in such
statements.