Ubique Announces Private Placement

This news release is not for distribution or dissemination in the Unites States of America

TORONTO, ON / ACCESSWIRE / August 21, 2023 / Ubique Minerals Limited ("Ubique" or the "Company") (CSE:UBQ)(FRA:2UM) announces a non-brokered financing of up-to $1,200,000. The previously announced funding from February 13, 2023 has been cancelled.

Ubique announces a non-brokered private placement of up to 15,000,000 Units of the Company at a price of $0.08 per Unit for gross proceeds of up to $1,200,000 (the "Offering") under the listed issuer financing exemption ("LIFE Offering"). Each Unit will consist of one (1) common share in the capital of the Company and one (1) common share purchase warrant, with each common share purchase warrant granting the holder the right to purchase one (1) additional common share of the Company at a price of $0.15 per share for a period of 24 months from the closing date of the Offering. The Offering may be closed in tranches.

The Unit Shares and Warrants issued to purchasers subscribing under the Listed Issuer Financing Exemption are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers residing in Canada.

The Unit Shares and Warrants issued to purchasers subscribing under prospectus exemptions other than the "listed issuer financing exemption" shall be subject to applicable resale restrictions under National Instrument 45-102 - Resale of Securities.

It is anticipated that insiders of the Company may participate in the Offering. By virtue of their participation, the Offering would constitute a "related party transaction" under applicable securities laws. The Company expects to release a material change report including details with respect to the related party transaction less than 21 days prior to the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner. As the related party transaction will not exceed specified limits and will constitute a distribution of securities for cash, it is expected that neither a formal valuation nor minority shareholder approval will be required in connection with the Offering.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The main use of proceeds will be for advancement of its Daniels Harbour projects, exploration in Africa and general working capital.

On behalf of the board of directors,

Vilhjalmur Thor Vilhjalmsson
Chairman and CEO

About Ubique Minerals Limited

Ubique Minerals Limited, a prominent exploration company trading on the CSE under the ticker symbol UBQ and on the FRA under 2UM, is dedicated to advancing the boundaries of mineral exploration. With a primary focus on its Daniel's Harbour zinc property in Newfoundland and captivating exploration initiatives in Namibia, Africa, Ubique is also proactively scouring the globe for additional promising projects. The company marked a significant milestone by becoming a publicly traded entity in September 2018.

For more information on Ubique please see www.ubiqueminerals.com or contact Vilhjalmur Thor Vilhjalmsson by e-mail vilhjalmur@ubiqueminerals.com or by phone at +354 8697296

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.

SOURCE: Ubique Minerals Limited