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Usha Resources ( (TSE:USHA) ) has issued an announcement.
Usha Resources and its wholly owned subsidiary 1540359 B.C. Ltd. have completed a $4.5 million private placement financing in connection with the planned sale of the subsidiary and Usha’s White Willow Property to capital pool company Totec Resources, a deal that will serve as Totec’s qualifying transaction on the TSX Venture Exchange. The financing, structured as units consisting of shares and warrants that will convert into Totec securities upon closing, is expected to fund exploration at the White Willow Property and provide working capital for Totec and the subsidiary, although completion remains contingent on exchange approval; if the transaction fails, the financing will be unwound and investor funds returned while trading in Totec shares remains halted pending satisfaction of regulatory requirements.
The most recent analyst rating on (TSE:USHA) stock is a Hold with a C$0.06 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 yet commenced commercial operations and currently holds only cash as its primary asset.
Average Trading Volume: 234,928
Technical Sentiment Signal: Buy
Current Market Cap: C$5.49M
For an in-depth examination of USHA stock, go to TipRanks’ Overview page.