Northwire Canada EditionFriday, November 13, 2026
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Financings

Usha Resources Non-Brokered Private Placement of Convertible Debentures

By The Northwire Desk — AI Analysis Jan 12, 2026 · 17:00 USHA · 0.065 Usha Resources Ltd.
USHA · Price

Executive Summary

  • Usha Resources Ltd. closed a non‑brokered private placement on December 11, 2025, raising $500,000 in gross proceeds.
  • The financing was effected through the issuance of unsecured convertible debentures with a one‑year term and a conversion price of $0.05 per share.
  • Proceeds are earmarked for general working capital, and the debentures carry forced conversion rights tied to future qualifying business combinations.

Key Details

  • Private Placement Size: $500,000 gross proceeds.
  • Instrument: Unsecured convertible debentures (the “Debentures”).
  • Term / Maturity: One‑year term; maturity date = December 11, 2026.
  • Conversion Price: $0.05 per common share.
  • Forced Conversion Rights:
  • Interest payable may be converted into shares at the interest conversion price (greater of VWAP for prior 15 days or market price at payment).
  • If a qualifying business transaction (market cap ≥ $10 M and pre‑announcement VWAP > $0.10) is announced before maturity, Usha may force conversion of all (or not less than all) principal into shares with 10‑day notice.
  • Statutory Hold Period: Four months and one day from issuance; expires April 12, 2026.
  • Finder’s Fee: $500 cash paid to an eligible finder in compliance with securities regulations.
  • Use of Proceeds: General working capital for the Company’s exploration and acquisition activities.
  • Regulatory Conditions: Closing remains subject to final approval by the TSX Venture Exchange; interest conversion into shares requires exchange acceptance at time of payment.

Notable Quotes

(No executive quotes were included in the release.)

Read the original news release →

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