TORONTO, ONTARIO-- Ungava Mines Inc. (OTCBB:UGVMF) announced today that it has closed the third tranche of its non-brokered private placement of Units. 250,667 Units were issued at a subscription price of $0.15, for total consideration of $37,600. Each Unit consists of one common share ("Common Share") in the capital of the Corporation and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 per Common Share until January 1, 2010. 18,400 broker warrants to purchase Units on or before January 1, 2010 were also issued.
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