UBIQUE MINERALS COMMENCES DRILLING, ALSO ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS AND PRIVATE PLACEMENT CLOSING.

Nov 10, 2020

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Toronto, Ontario, November 10th, 2020Ubique Minerals Limited ("Ubique")(CSE:UBQ) is pleased to announce that its shareholders approved all resolutions at its annual meeting of shareholders held on Thursday, October 28th, 2020.  The company has closed its previously announced flow through private placement for proceeds of $56,000.  Diamond drilling has started at the Daniel’s Harbour Property in Newfoundland and soil sampling was undertaken in an area where previous sampling identified an open-ended zinc soil anomaly.

Gerald Harper, Ubique’s CEO, said “We are eager to start drilling at Daniel’s Harbour to further capitalize on our prior success. Our past producing zinc project is favourably situated geographically and commodity wise. Weather allowing, we believe we and our shareholders have a compelling opportunity to succeed”

The resolutions approved at the Meeting were as follows:

  • The resolution to receive the audited financial statements of the Corporation for the periods ending July 31, 2019 and July 31, 2020.
  • The resolution to fix the number of directors of the Corporation to be elected at the Meeting at five (5).
  • The resolution to appoint the five (5) nominees as directors of the Corporation to serve until the next annual meeting of shareholders of the Corporation, or until their successors are elected or appointed. The nominated directors received the following votes for their election:

 

Nominee                Votes for          Percent             votes withheld               _          Percent

 

Gerald Harper                    25,050,862       100.00                         0                      0.00

David Lonsdale                  25,050,862       100.00                         0                      0.00

Gaurav Singh                     25,050,862       100.00                         0                      0.00

Peter Wanner                     25,050,862       100.00                         0                      0.00

Mark Wettreich                  25,050,862       100.00                         0                      0.00

 

  • The resolution to appoint Dale Matheson Carr-Hilton Labone LLP as the Corporation’s auditors.
  • The resolution to re-approve the Corporation’s stock option plan.

Shareholders present at the meeting or represented by proxy aggregated 25,673,046, being 56.53% of all the shareholders at the record date for the meeting.

 

At a Board meeting held shortly after the Annual Meeting of the Corporation the Board approved the appointment of officers as follows:

Chair of the Board                                David Lonsdale

Chief Executive Officer                        Gerald Harper

Secretary and chief Financial Officer     Gaurav Singh

Vice President – Exploration                 Roland Crossley

 

The Board also confirmed appointments to the Board Committees. 

Ubique has closed a private placement (press release dated September 1, 2020) to raise $56,000 from the issuance of 933,400 Flow-Through Shares each priced at $0.06 per Share.  Insiders of the Company have invested $42,000 in this private placement financing. The terms of this private placement are subject to approval by the Canadian Stock Exchange (“CSE”).

The proceeds are intended to be used for additional drilling on Ubique’s Daniels Harbour Zinc Project and on the adjacent MinKap Resources Inc. (“KAP”) option property, on the island of Newfoundland, Canada. The KAP option was announced in press releases dated December 6th, 2018 and February 14th, 2019 and drilling results and drilling plans have been announced in press releases dated October 2nd, 2018, October 29th, 2018 and February 28th, 2019.  All these press releases are available from the Company website and SEDAR (www.sedar.com).

A diamond drilling contract has been signed and the contractor has mobilized a drill to the property. The first holes will be drilled in the PE Zone to extend that deposit and then the drill will be moved to the 2160 Zone on the KAP option property.

Additional soil sampling has been undertaken in the area previously sampled on the East Mineral License to fill in a gap in the sampling which will assist in determining the limits of the anomalous area. The contoured map of the zinc anomaly is available for viewing on the company website listed below. A video showing the set up of the drill is also posted to the website.

 

About Ubique Minerals Limited.

Ubique Minerals Limited is a zinc exploration company listed on the CSE (CSE:UBQ). It has focused on exploration of its 100% owned Daniel’s Harbour zinc property in Newfoundland, and was initially funded by private equity including that from Greenbank Capital Inc (CSE:GBC and OTCMKTS:GRNBF and FRA:2TL).  Ubique became a publicly listed company in September 2018.  Ubique has undertaken three drilling programs on its Daniel’s Harbour zinc project, all of which were successful in delineating zinc mineralization extending from the vicinity of former mine workings. Ubique has an experienced management group and owns an extensive database of historic exploration results from the Daniel’s Harbour area. For more information on Ubique please contact Gerald Harper, CEO, at (416) 232-9114 or by email gharper@ubiquezinc.com or  see the website at www.ubiqueminerals.com

Dr. Gerald Harper, P.Geo.(NL), the CEO of Ubique, is the qualified person as defined by NI 43-101 responsible for the technical data presented herein and has reviewed and approved this release.

 

Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Ubique Minerals Limited., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Ubique can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Ubique disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.