Proceeds fund the Jerritt Canyon Gold Project, general working capital
By Devika Patel
Knoxville, Tenn., May 18 - Yukon-Nevada Gold Corp. said Thursday that it settled an C$8.99 million non-brokered private placement of units. The deal priced for C$7 million on May 14.
The company sold 39.1 million units at C$0.23 apiece. Each unit consists of one common share and one warrant. Each three-year warrant is exercisable at C$0.40, a 48.15% premium to the May 11 closing share price of C$0.27.
Proceeds will be used on the company's Jerritt Canyon Mine and for general working capital purposes.
The company also said it negotiated a C$6.9 million settlement of accounts payable by issuing 22.8 million shares at a deemed price of C$0.30 per share.
Yukon-Nevada is a Vancouver, B.C.-based gold exploration company.
Issuer: | Yukon-Nevada Gold Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$8,993,000
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Units: | 39.1 million
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Price: | C$0.23
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Warrants: | One warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | C$0.40
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Agent: | Non-brokered
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Pricing date: | May 14
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Settlement date: | May 17
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Stock symbol: | Toronto: YNG
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Stock price: | C$0.27 at close May 11
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Market capitalization: | C$242.08 million
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