By Laura Lutz
Washington, Nov. 27 - Yukon Gold Corp., Inc. negotiated a private placement for up to C$6 million.
The company intends to sell special warrants exchangeable into flow-through common shares at C$1.20 each and special warrants exchangeable into units of one non flow-through share and one half-share warrant at C$0.95 each.
The special warrants will be exchangeable upon issuance of C$1 million of unit special warrants.
Each whole warrant included in the units will be exercisable at C$1.20 for two years.
Northern Securities Inc., the placement agent, received a greenshoe for up to C$2 million of special warrants.
Settlement is expected in December.
Proceeds will be used for the exploration and development of the company's two Yukon Territory-based properties and for working capital.
Yukon is a resource exploration company based in Toronto.
| Issuer: | Yukon Gold Corp., Inc.
|
| Issue: | Special warrants exchangeable into flow-through shares and special warrants exchangeable for units of one non flow-through share and one half-share warrant
|
| Amount: | C$6 million
|
| Greenshoe: | C$2 million
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | Nov. 23
|
| Stock symbol: | Toronto: YK
|
| Stock price: | C$1.12 at close Nov. 23
|
|
|
| Flow-through share special warrants
|
| Price: | C$1.20
|
| Warrants: | No
|
|
|
| Unit special warrants
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.20
|
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