Company sells two types of units to finance exploration, development
By Devika Patel
Knoxville, Tenn., April 18 - Yellowjacket Resources Ltd. said it revised the terms of a non-brokered private placement of units to raise C$1.95 million. The deal priced for C$2.5 million April 12.
The company will now sell 2.5 million flow-through units of one flow-through common share and one half-share warrant at C$0.18 per unit and 10 million non-flow-through units of one common share and one warrant at C$0.15 per unit.
The 30-month warrants are now exercisable at C$0.30, an 87.5% premium to the April 11 closing share price of C$0.16.
The company had planned to sell 5 million flow-through units at C$0.18 per unit and 10 million non-flow-through units at C$0.16 per unit, with the two-year warrants exercisable at C$0.32.
Insiders may participate.
Proceeds will be used for exploration and development of the Yellowjacket Property and general working capital.
The gold exploration company is based in Cranbrook, B.C.
| Issuer: | Yellowjacket Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, non-flow-through units of one common share and one warrant
|
| Amount: | C$1.95 million
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | April 12
|
| Amended: | April 18
|
| Stock symbol: | TSX Venture: YJK
|
| Stock price: | C$0.16 at close April 11
|
| Market capitalization: | C$4.24 million
|
|
|
| Flow-through units
|
| Amount: | C$450,000
|
| Units: | 2.5 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
|
|
| Non-flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
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