By Sheri Kasprzak
New York, Feb. 21 - Yellowcake Mining Inc. pocketed $4.13 million from a private placement.
The company sold 4.13 million units of one share and one half-share warrant.
Each whole warrant is exercisable at $1.50 for two years.
Proceeds will be used for investor relations, obligations from the company's joint venture on the Baggs-Jupiter Ridge uranium project in Wyoming and for working capital.
In other news, geologist Dick Klatt was named to the company's board of directors.
Las Vegas-based Yellowcake Mining is a mineral exploration company focused on uranium.
| Issuer: | Yellowcake Mining Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $4.13 million
|
| Units: | 4.13 million
|
| Price: | $1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.50
|
| Settlement date: | Feb. 21
|
| Stock symbol: | OTCBB: YCKM
|
| Stock price: | $2.55 at close Feb. 21
|
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