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Usha Resources ( (TSE:USHA) ) has issued an announcement.
Totec Resources and Usha Resources have provided supplemental disclosure on their planned qualifying transaction under TSX Venture Exchange rules, whereby Totec will acquire Usha’s interest in 1540359 B.C. Ltd. and, indirectly, the 489 mineral claims comprising the White Willow Property in Ontario’s Thunder Bay Mining Division. Under the deal, Totec will pay Usha $50,000 and issue 5.5 million post-consolidation shares at a deemed price of $0.15, while Subco’s concurrent financing has been upsized to raise up to $4.5 million through 30 million units, each with a share and a two‑year warrant; the transaction, involving overlapping management but no control persons, is not treated as a related party or non‑arm’s length qualifying transaction and does not require disinterested shareholder approval, with Totec’s shares remaining halted until exchange requirements are met.
The most recent analyst rating on (TSE:USHA) stock is a Hold with a C$0.07 price target. To see the full list of analyst forecasts on Usha Resources stock, see the TSE:USHA Stock Forecast page.
Spark’s Take on TSE:USHA Stock
According to Spark, TipRanks’ AI Analyst, TSE:USHA is a Neutral.
The score is held back primarily by weak financial performance: no revenue, ongoing losses, and negative free cash flow despite improvement and a low-debt balance sheet. Technicals are supportive with strong bullish momentum, and valuation appears moderate based on the provided P/E, but does not outweigh the fundamental cash-burn risk.
To see Spark’s full report on TSE:USHA stock, click here.
More about Usha Resources
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of battery and precious metal properties. Totec Resources Ltd. is a TSX Venture Exchange-listed capital pool company that has not commenced commercial operations and currently holds only cash as its primary asset, seeking a qualifying transaction to transition into an active operating issuer.
YTD Price Performance: 40.0%
Average Trading Volume: 236,683
Technical Sentiment Signal: Buy
Current Market Cap: C$6.41M
Learn more about USHA stock on TipRanks’ Stock Analysis page.