By Laura Lutz
Des Moines, Sept. 29 - Yankee Hat Minerals Ltd. settled a private placement with MineralFields Group for C$1.13 million.
MineralFields bought 6,277,775 units of one flow-through share and one non flow-through half-share purchase warrant for C$0.18 per unit.
Each full warrant is exercisable for two years, at C$0.30 in the first year and C$0.40 in the second year.
Proceeds will be used for exploration and development of the company's mineral properties in British Columbia.
Yankee Hat is a Vancouver, B.C.-based mineral company focused on gold and uranium projects. MineralFields, a division of Pathway Asset Management, is a Toronto-based mining fund.
| Issuer: | Yankee Hat Minerals Ltd.
|
| Issue: | Units of one flow-through share and one non flow-through half-share warrant
|
| Amount: | C$1.13 million
|
| Units: | 6,277,775
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30 in the first year; C$0.40 in the second year
|
| Investor: | MineralFields Group
|
| Settlement date: | Sept. 29
|
| Stock symbol: | TSX Venture: KHT
|
| Stock price: | C$0.165 at close on Sept. 29
|
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