By Laura Lutz
Des Moines, Aug. 14 - Tyhee Development Corp. amended its previously announced private placement of shares, downsizing the deal to C$4 million from C$7 million.
The placement now consists entirely of non flow-through shares at C$0.42 each. A U.S. investor will buy all of the shares on a non-brokered basis.
When the placement priced on July 23, the U.S. portion of the deal was expected to include only 4.762 million shares for proceeds of about C$2 million. The company also planned to sell up to 7,692,308 flow-through shares and up to 2.381 million non flow-through shares in Canada through agent Loewen, Ondaatje, McCutcheon Ltd.
The Canadian portion of the deal has been canceled.
Proceeds will be used for exploration and development and for general corporate purposes.
Tyhee is a gold exploration company based in Vancouver, B.C.
| Issuer: | Tyhee Development Corp.
|
| Issue: | Non flow-through shares
|
| Amount: | C$4 million
|
| Price: | C$0.42
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 23
|
| Downsized: | Aug. 14
|
| Stock symbol: | TSX Venture: TDC
|
| Stock price: | C$0.45 at close July 20
|
| Stock price: | C$0.435 at close Aug. 14
|
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