By Sheri Kasprzak
Atlanta, June 17 - YGC Resources Ltd. has added more flow-through units to the brokered portion of its private placement announced earlier this week, bringing the total expected proceeds to C$3,825,000.
The company will now sell up to 4,125,000 flow-through units at C$0.80 each and up to 750,000 non flow-through units at C$0.70 each.
The flow-through units include one flow-through share and one half-share warrant. The whole warrants are exercisable at C$1.00 each for two years.
The non flow-through units include one share and one half-share warrant, also exercisable in whole at C$1.00 each for two years.
The offering, priced on June 15, originally included up to 3.5 million flow-through units under the same terms.
The over-allotment option originally granted to placement agent Pacific International Securities Inc. has also been changed to include up to 825,000 additional flow-through units and 150,000 additional common share units. The greenshoe had originally allowed for up to 700,000 flow-through units and the same number of common share units.
The proceeds from the brokered offering will be used for the development of the company's Ketza River property and for working capital.
Based in Vancouver, B.C., YGC is a diamond exploration company.
| Issuer: | YGC Resources Ltd.
|
| Issue: | Flow-through and non flow-through units of one share and one half-share warrant
|
| Amount: | C$3,825,000
|
| Placement agent: | Pacific International Securities Inc.
|
| Pricing date: | June 15
|
| Upsized: | June 16
|
| Stock price: | C$0.90 at close June 15
|
| Stock price: | C$0.90 at close June 16
|
|
|
| Flow-through units
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Units: | 4,125,000 (maximum)
|
| Greenshoe: | For up to 825,000 additional units
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
|
|
| Common share units
|
| Issue: | Units of one non flow-through share and one half-share warrant
|
| Units: | 750,000 (maximum)
|
| Greenshoe: | For up to 150,000 units
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
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