Deal has C$1 million greenshoe; proceeds fund Yellowknife Gold Project
By Devika Patel
Knoxville, Tenn., Jan. 17 - Tyhee Gold Corp. said it raised C$2.81 million in the initial tranche of a C$5 million private placement of units on Monday. The deal priced with a C$1 million greenshoe on Dec. 15 and is being conducted by agents Euro Pacific Canada Inc. and Byron Capital Markets Ltd.
The company is selling units of one common share and one warrant at C$0.09 per unit on a best-efforts basis. It sold 31,240,614 units in the first tranche.
Each warrant is exercisable at C$0.125 until Jan. 13, 2014. The strike price reflects a 38.89% premium to the Dec. 15 closing share price of C$0.09.
Proceeds will be used to advance the Yellowknife Gold Project and for general corporate purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Tyhee Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5 million
|
| Greenshoe: | C$1 million
|
| Price: | C$0.09
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Jan. 13, 2014
|
| Warrant strike price: | C$0.125
|
| Agents: | Euro Pacific Canada Inc. and Byron Capital Markets Ltd.
|
| Pricing date: | Dec. 16
|
| Pricing date: | Jan. 16 (for C$2,811,655)
|
| Stock symbol: | TSX Venture: TDC
|
| Stock price: | C$0.09 at close Dec. 15
|
| Market capitalization: | C$29.37 million
|
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