By Devika Patel
Knoxville, Tenn., Dec. 23 - Tyhee Development Corp. said it raised C$1.18 million in the final tranche of a C$3.88 million private placement of stock.
The deal priced for C$3 million on Dec. 9 and the company raised C$1.5 million on Dec. 11. It took in C$1.2 million on Dec. 18.
The company sold 19.39 million flow-through shares at C$0.20 per share via agent Loewen, Ondaatje, McCutcheon Ltd. on a best-efforts basis.
In the first tranche, the Mineralfields Group bought 7.5 million shares. Tyhee sold 5,982,000 shares in the second tranche and 5,908,000 shares in the third tranche.
Proceeds will be used for exploration and development.
Tyhee is a gold exploration company based in Vancouver, B.C.
| Issuer: | Tyhee Development Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$3,878,000
|
| Shares: | 19.39 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agents: | Loewen, Ondaatje, McCutcheon Ltd.
|
| Investor: | Mineralfields Group (for C$1.5 million)
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 11 (for C$1.5 million), Dec. 18 (for C$1,196,400), Dec. 23 (for C$1,181,000)
|
| Stock symbol: | TSX Venture: TDC
|
| Stock price: | C$0.22 at close Dec. 8
|
| Market capitalization: | C$45.3 million
|
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