By Sheri Kasprzak
Atlanta, June 16 - YGC Resources Ltd. said it plans to conduct two private placements for total proceeds of C$4,375,000.
The first offering, a brokered deal, includes up to 750,000 non flow-through units at C$0.70 each and up to 3.5 million flow-through units at C$0.80 each, for proceeds of C$3,325,000.
The non flow-through units include one common share and one half-share warrant. The whole warrants allow for an additional common share at C$1.00 each for two years.
The flow-through units are comprised of one flow-through share and one half-share warrant. The whole warrants are exercisable at C$1.00 each for two years.
Placement agent Pacific International Securities Inc. has an over-allotment option for up to 700,000 additional flow-through units and up to 150,000 additional common share units. If fully exercised, the greenshoe will bring the proceeds to C$3.99 million.
The proceeds from the brokered offering will be used for the development of the company's Ketza River property and for working capital.
YGC also plans to conduct a non-brokered offering comprised of up to 1.5 million common share units at C$0.70 each, for proceeds of C$1.05 million.
The units include one share and one half-share warrant, the whole of which is exercisable at C$1.00 each for two years.
The proceeds of the non-brokered deal will be used for working capital.
Based in Vancouver, B.C., YGC is a diamond exploration company.
| Issuer: | YGC Resources Ltd.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$3,325,000
|
| Placement agent: | Pacific International Securities Inc.
|
| Pricing date: | June 15
|
| Stock price: | C$0.90 at close June 15
|
|
|
| Flow-through units
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Units: | 3.5 million (maximum)
|
| Greenshoe: | For up to 700,000 additional units
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
|
|
| Common share units
|
| Issue: | Units of one non flow-through share and one half-share warrant
|
| Units: | 750,000 (maximum)
|
| Greenshoe: | For up to 150,000 units
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
|
|
| Non-brokered offering
|
| Issuer: | YGC Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.05 million
|
| Units: | 1.5 million
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Pricing date: | June 15
|
| Stock price: | C$0.90 at close June 15
|
|
|
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