By Devika Patel
Knoxville, Tenn., Oct. 21 - Yale Resources Ltd. said it has increased a non-brokered private placement of units to C$1.2 million from C$600,000. The deal priced Oct. 15.
The company will sell 20 million units at C$0.06 per unit. Each unit consists of one common share and one warrant. The warrants are exercisable at C$0.09 for one year.
Proceeds will be applied to ongoing work programs on the company's current portfolio of properties and to general working capital.
Yale is an exploration company that focuses on Mexico and is based in Vancouver, B.C.
| Issuer: | Yale Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 20 million
|
| Price: | C$0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.09
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Upsized: | Oct. 21
|
| Stock symbol: | TSX Venture: YLL
|
| Stock price: | C$0.08 at close Oct. 15
|
| Market capitalization: | C$3.61 million
|
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