Non-brokered sale raises funds to advance the Yellowknife Gold project
By Devika Patel
Knoxville, Tenn., Aug. 2 - Tyhee Gold Corp. said it raised C$360,000 in the third and final tranche of a C$1.77 million non-brokered private placement of units. The offering priced for C$6.5 million on April 2 and took in C$919,370 on April 17 and C$495,000 on May 24.
The company sold a total of 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, 5.5 million units in the second tranche and 4 million units in the third tranche.
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.
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$1,774,369
|
| Units: | 19,715,209
|
| Price: | C$0.09
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| 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), Aug. 2 (for C$360,000)
|
| Stock symbol: | TSX Venture: TDC
|
| Stock price: | C$0.11 at close March 30
|
| Market capitalization: | C$25.85 million
|
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