Company terminates C$2.81 million brokered offering of units as well
By Devika Patel
Knoxville, Tenn., April 2 - Tyhee Gold Corp. said it will conduct a C$6.5 million non-brokered private placement of units. It has already secured commitments for about C$920,000 of the units.
The company will sell 72,222,222 units of one common share and one warrant at C$0.09 per unit. Each two-year warrant will be exercisable at C$0.125, a 13.64% premium to the March 30 closing share price of C$0.11.
Euro Pacific Canada Inc. will be paid a finder's fee.
The company also said that it has agreed to terminate a similar private placement of units, which was being conducted by agents Euro Pacific Canada Inc. and Byron Capital Markets Ltd.
The deal priced for C$5 million with a C$1 million greenshoe on Dec. 15 and sold a total of 31,240,614 units at C$0.09 per unit for C$2.81 million. The proceeds were raised in one tranche on Jan. 16.
The units in the December offering consisted of one common share and one warrant and were being sold a best efforts basis. Each warrant will be exercisable at C$0.125 until Jan. 13, 2014. The strike price reflects a 38.89% premium to the Dec. 15 closing share price of C$0.09.
Proceeds of both deals will be used to advance the Yellowknife Gold project, as well as for general corporate purposes.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Tyhee Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Price: | C$0.09
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.125
|
| Stock symbol: | TSX Venture: TDC
|
| Market capitalization: | C$30.87 million
|
|
|
| April offering
|
| Amount: | C$6.5 million
|
| Units: | 72,222,222
|
| Price: | C$0.09
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | April 2
|
| Stock price: | C$0.11 at close March 30
|
|
|
| December offering
|
| Amount: | C$2,811,655
|
| Units: | 31,240,614
|
| Warrant expiration: | Jan. 13, 2014
|
| Agents: | Euro Pacific Canada Inc. and Byron Capital Markets Ltd.
|
| Pricing date: | Dec. 16
|
| Settlement date: | Jan. 16
|
| Stock price: | C$0.09 at close Dec. 15
|
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