Upper Canyon Minerals closes $1M private placement




News Release

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Upper Canyon Minerals Corp. Announces Closing of $1,000,000 Financing

Vancouver, B.C., October 19, 2017: Upper Canyon Minerals Corp. (TSXV-NEX: “UCM.H”) (the “Company”) wishes to announce that it has closed a non‐brokered private placement announced September 12, 2017 for 6,666,665 units (“Units”) at a price of $0.15 per Unit to raise gross proceeds of $999,999.75 (the “Offering”).

Each Unit consists of one common share of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share at a price of $0.20 until October 17, 2018.

The Warrant is subject to an acceleration provision wherein, if anytime following the expiration of the four-month hold period and in the event that the closing price of the Shares on the TSX Venture Exchange (the “TSXV”)(or if the Company is not listed on the TSXV then, such other stock exchange on which the Shares are listed and where a majority of the trading volume occurs) exceeds $0.50 for any 10 consecutive trading days, and provided that the Shares trade on at least 10 of those trading days, in which event the subscriber may, at the Company’s election, be given notice that the Warrants will expire 30 days following the date of such notice. The Warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the Warrants.

Proceeds from the Offering will be used to pay off the Company’s debts and for general working capital, including potential acquisitions, marketing, corporate accounting and geological services.

All securities issued in connection with the Offering are subject to a four-month and a day hold period under applicable securities laws which expires on February 18, 2018. No finder’s fee was paid in connection with the Offering.

ABOUT UPPER CANYON

Upper Canyon is a Vancouver based mining exploration company listed on the TSXV-NEX. Management is now focusing efforts on project generation and future financings.

Dated at Vancouver, British Columbia, October 19, 2017.

BY ORDER OF THE BOARD
“Brian Thurston”
Brian Thurston
Chief Executive Officer