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VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2015) - UC Resources Ltd. (TSX VENTURE:UC) (the "Company") announces that, subject to regulatory approval, Sunvault Energy Inc. ("Sunvault") has agreed to accept shares in the Company as full repayment of past loans in the amount of $80,000 provided by Sunvault to the Company, by the issuance of an aggregate of 1,600,000 common shares of the Company having a deemed value of $0.05 per share (the "Debt Conversion"). The Debt Conversion was approved by the shareholders of the Company at the Company's Annual General Meeting held on April 17, 2015. If approved by the TSX Venture Exchange, the Debt Conversion will place Sunvault as a new control person of the Company. |
