Company also raises C$440,000 selling 4,888,889 shares with warrants
By Devika Patel
Knoxville, Tenn., Nov. 25 – Tyhee Gold Corp. said it has arranged a C$1.68 million non-brokered private placement of units.
The company will sell 8 units of 3 million common shares and 1.5 million warrants at C$210,000 per unit. Each warrant will be exercisable at C$0.15 for two years. The strike price is an 87.5% premium to the Nov. 24 closing share price of C$0.08.
The company also said it completed two tranches of another non-brokered private placement in which it sold 4,888,889 shares and 2,444,444 warrants at about C$0.90 per share for C$440,000. Each of these warrants is exercisable at C$0.15 for two years, also a premium to the Nov. 24 closing price. The first-tranche of this placement sold 1 million shares and 500,000 warrants and the second tranche sold 3,388,889 shares and 1,694,444 warrants.
The gold explorer is based in Vancouver, B.C.
Issuer: | Tyhee Gold Corp.
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Issue: | Units of 3 million common shares and 1.5 million warrants
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Amount: | C$1.68 million
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Units: | 8
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Price: | C$210,000
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Warrants: | 1.5 million warrants per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.15
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Agent: | Non-brokered
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Pricing date: | Nov. 25
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Stock symbol: | TSX Venture: TDC
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Stock price: | C$0.08 at close Nov. 24
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Market capitalization: | C$29.6 million
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