Non-brokered offering expected to finance Yellowknife Gold project
By Devika Patel
Knoxville, Tenn., Oct. 10 - Tyhee Gold Corp. said it raised C$225,000 in the second tranche of a C$4.73 million non-brokered private placement of units. The deal priced on Sept. 4 and raised C$225,000 on Sept. 7.
The company is selling 52,507,000 units of one common share and one warrant at C$0.09 per unit. It sold 2.5 million units in the first tranche and 2.5 million units in the second tranche.
Each two-year warrant is exercisable at C$0.125, a 38.89% premium to the Aug. 31 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$4,725,630
|
| Units: | 52,507,000
|
| Price: | C$0.09
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.125
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 4
|
| Settlement date: | Sept. 7 (for C$225,000), Oct. 10 (for C$225,000)
|
| Stock symbol: | TSX Venture: TDC
|
| Stock price: | C$0.09 at close Aug. 31
|
| Market capitalization: | C$26.04 million
|
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