By Susanna Moon
Chicago, July 11 - Yale Resources Ltd. said it plans to raise C$1.25 million in two private placements of units.
In one placement, the company will issue up to 4 million units for C$0.25 each through its agent PI Financial Corp.
In the non-brokered placement, the company plans to sell 1 million units for C$0.25 each.
For both placements, each unit consists of one share and one non-transferable half-share warrant, with each whole warrant exercisable at C$0.50 for two years.
Proceeds will be used for working capital and for the company's La Verde Project.
Yale is an exploration company that focuses on Mexico and is based in Vancouver, B.C.
Issuer Yale Resources Ltd.
| Issue: | Units of one share and one non-transferable half-share warrant
|
| Amount: | C$1.25 million
|
| Warrants: | Half-share per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Announcement date: | July 11
|
| Stock symbol: | TSX Venture: YLL
|
| Stock price: | C$0.305 at close July 10
|
|
|
| First issue
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Agent: | PI Financial Corp.
|
|
|
| Second issue
|
| Units: | 1 million
|
| Price: | C$0.25
|
| Agent: | Non-brokered
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
