By Devika Patel
Knoxville, Tenn., Sept. 1 - Yukon-Nevada Gold Corp. said it completed a C$4.11 million non-brokered private placement of units with a C$2.22 million tranche. The deal was announced as a C$4 million offering on Aug. 10, and the company raised C$1.88 million in the first tranche on Aug. 7.
The company sold 41.05 million units at C$0.10 each. It sold 18,829,720 units in the first tranche and 22,220,280 units in the second tranche.
Each unit consists of one common share and one warrant. The warrant is exercisable at C$0.125 for 30 months.
Proceeds will be used to re-start mill operations at the company's Jerritt Canyon Mine and for general working capital purposes.
Yukon-Nevada is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Yukon-Nevada Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4,105,000
|
| Units: | 41.05 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | C$0.125
|
| Agent: | Non-brokered
|
| Announcement date: | Aug. 10
|
| Settlement date: | Aug. 7 (for C$1,882,972), Sept. 1 (for C$2,222,028)
|
| Stock symbol: | Toronto: YNG
|
| Stock price: | C$0.125 at close Aug. 7
|
| Market capitalization: | C$41.6 million
|
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