April 3 (Reuters) - UrtheCast Corp UR.TO :
* URTHECAST REPORTS FOURTH QUARTER AND FISCAL 2017 FINANCIAL RESULTS AND ANNOUNCES BROKERED PRIVATE PLACEMENT
* QTRLY LOSS PER SHARE C$0.14
* QTRLY REVENUE EXCLUDING NON-CASH REVENUE C$9.0 MILLION VERSUS C$11.7 MILLION
* COMPANY WILL NEED TO COMPLETE URTHEDAILY FINANCING IN ORDER TO PAY FOR ITS ONGOING COSTS OF OPERATIONS
* BASED ON FORECASTED CASH FLOWS FOR NEXT 12 MONTHS, CURRENT CASH FLOW FROM OPERATIONS MAY NOT BE SUFFICIENT TO COVER CO'S COMMITMENTS AND OBLIGATIONS
* AS AT MARCH 31, CO HAD LESS THAN C$7.5 MILLION IN CASH ON HAND, A DECREASE OF C$4.5 MILLION FROM PREVIOUSLY ANNOUNCED CASH POSITION OF C$12 MILLION AS AT FEB 28
* CO'S AUDITOR INDICATED EXISTENCE OF MATERIAL UNCERTAINTY THAT MAY CAST SIGNIFICANT DOUBT ABOUT CO'S ABILITY TO CONTINUE AS A GOING CONCERN
* MANAGEMENT CONCLUDED THAT THERE IS SIGNIFICANT DOUBT AS TO ABILITY OF URTHECAST TO CONTINUE AS A GOING CONCERN
* HAS RECEIVED PERMISSION FROM A SYNDICATE OF LENDERS TO RELEASE CERTAIN TERMS OF SENIOR SECURED FACILITY FOR URTHEDAILY PROJECT
* LOAN WILL MAKE AVAILABLE TO COMPANY US$142 MILLION IN TWO EQUAL DRAWDOWNS