By Sheri Kasprzak
New York, Aug. 4 - YGC Resources Inc. said it has closed a private placement for C$4,398,500.
The company sold 4.8 million flow-through units at C$0.80 each and 797,856 non flow-through units at C$0.70 each.
The non flow-through portion includes a partially exercised greenshoe for 47,856 additional units and the flow-through portion includes a fully exercised greenshoe for 700,000 additional units.
Pacific International Securities Inc. was the placement agent.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$1.00 each for two years.
The offering was first announced June 15 as a C$3,325,000 offering of up to 750,000 non flow-through units and up to 3.5 million flow-through units at C$0.70 and C$0.80, respectively.
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$4,398,500
|
| Placement agent: | Pacific International Securities Inc.
|
| Pricing date: | June 15
|
| Settlement date: | Aug. 4
|
| Stock price: | C$0.90 at close June 15
|
| Stock price: | C$0.75 at close Aug. 4
|
|
|
| Flow-through units
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Units: | 4.8 million (includes greenshoe for 700,000 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: | 797,856 (includes greenshoe for 47,856 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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