Non-brokered sale raises funds to advance the Yellowknife Gold project
By Devika Patel
Knoxville, Tenn., May 24 - Tyhee Gold Corp. said it took in C$495,000 in the second tranche of a C$6.5 million non-brokered private placement of units. The offering priced April 2 and raised C$919,370 on April 17.
The company is selling 72,222,222 units of one common share and one warrant at C$0.09 per unit. It sold 10,215,209 units in the initial tranche and 5.5 million units in the second.
Each two-year warrant is exercisable at C$0.125, a 13.64% premium to the March 30 closing share price of C$0.11. The warrants sold in the first tranche expire April 10, 2014, and those sold in the second tranche expire May 23, 2014.
Euro Pacific Canada Inc. was paid a finder's fee in the form of warrants for 333,360 common shares at C$0.11 per share.
Proceeds 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
|
| Amount: | C$6.5 million
|
| Units: | 72,222,222
|
| Price: | C$0.09
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | April 10, 2014 (first-tranche warrants); May 23, 2014 (second-tranche warrants)
|
| Warrant strike price: | C$0.125
|
| Agent: | Non-brokered
|
| Pricing date: | April 2
|
| Settlement dates: | April 17 (for C$919,370), May 24 (for C$495,000)
|
| Stock symbol: | TSX Venture: TDC
|
| Stock price: | C$0.11 at close March 30
|
| Market capitalization: | C$26.81 million
|
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