Yukon Zinc arranges private placement for C$7 million

By Sheri Kasprzak

New York, Sept. 21 - Yukon Zinc Corp. said it plans to raise C$7 million in a private placement.

The offering includes C$5 million in units and C$2 million in flow-through shares.

The units include one share and one half-share warrant. The warrants are exercisable for two years.

The pricing terms of the deal have not yet been determined.

A syndicate of placement agents comprised of Paradigm Capital Inc., Blackmont Capital Inc., Dundee Securities Corp. and Canaccord Capital Corp. has an over-allotment option for up to C$3 million.

The offering is expected to close Oct. 20.

Proceeds will be used for development once a bankable feasibility study is completed and for continued marketing activities at the company's Wolverine project. The rest will be used for working capital.

Based in Vancouver, B.C., Yukon Zinc is a mineral exploration company.

The offering was announced late Tuesday, and the company's stock closed unchanged at C$0.24.

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