Company sells two types of units to finance exploration and development
By Devika Patel
Knoxville, Tenn., April 12 - Yellowjacket Resources Ltd. said it will conduct a C$2.5 million non-brokered private placement of units.
The company will sell 5 million flow-through units of one flow-through common share and one half-share warrant at C$0.18 per unit and 10 million non flow-through units of one common share and one warrant at C$0.16 per unit.
The two-year warrants are exercisable at C$0.32, a 100% premium to the April 11 closing share price of C$0.16.
Insiders may participate.
Proceeds will be used for exploration and development of the Yellowjacket Property and general working capital.
The gold exploration company is based in Cranbrook, B.C.
| Issuer: | Yellowjacket Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, non flow-through units of one common share and one warrant
|
| Amount: | C$2.5 million
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.32
|
| Agent: | Non-brokered
|
| Pricing date: | April 12
|
| Stock symbol: | TSX Venture: YJK
|
| Stock price: | C$0.16 at close April 11
|
| Market capitalization: | C$4.57 million
|
|
|
| Flow-through units
|
| Amount: | C$900,000
|
| Units: | 5 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
|
|
|
|
| Non flow-through units
|
| Amount: | C$1.6 million
|
| Units: | 10 million
|
| Price: | C$0.16
|
| Warrants: | One warrant per unit
|
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