By Sheri Kasprzak
Atlanta, Jan. 19 - YGC Resources Ltd. will raise up to C$7 million in a private placement of units.
The company plans to sell a maximum of 10 million common share units at C$0.60 each and up to 1.25 million flow-through units at C$0.80 each.
The common share units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$1 each for two years.
The flow-through units include one flow-through share and one half-share warrant, exercisable under the same terms as the warrants in the common share units.
Placement agent Pacific International Securities Inc. has an over-allotment option for up to 2 million common share units and up to 250,000 flow-through shares units.
As part of the private placement, Pacific International has agreed to sponsor YGC's application for listing on the Toronto Stock Exchange. YGC will pay Pacific International C$25,000 for the sponsorship. The closing of the offering is contingent upon the company's conditional acceptance of the application.
Based in Vancouver, B.C., YGC is a gold mining and exploration company. The proceeds will be used for development on its Ketza River property in the Yukon and for general working capital.
| Issuer: | YGC Resources Ltd.
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| Issue: | Common share units and flow-through units
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| Amount: | C$7 million
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| Greenshoe: | For 2 million common units and 250,000 flow-through units
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| Placement agent: | Pacific International Securities Inc.
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| Pricing date: | Jan. 18
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|
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| Common share units
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| Issue: | Common share units of one share and one half-share warrant
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| Units: | 10 million (maximum)
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00
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|
| Flow-through units
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| Issue: | Flow-through units of one flow-through share and one half-share warrant
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| Units: | 1.25 million (maximum)
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| Price: | C$0.80
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| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00
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