By Sheri Kasprzak
New York, June 1 - YGC Resources Ltd. said the greenshoe was exercised on the flow-through portion of its previously announced private placement, bringing the proceeds to C$8.25 million.
The company issued 5.5 million flow-through shares at C$1.50 apiece, including the over-allotment option for 500,000 shares exercised by placement agent Pacific International Securities Inc.
The company has an outstanding non flow-through portion of the deal for 500,000 shares at C$1.30 each.
The deal priced April 26 as a C$6.65 million offering of 4 million flow-through and 500,000 non flow-through shares. It was upsized to C$8.15 million on May 1.
The proceeds will be used for development on the Ketza River property and for working capital.
Vancouver, B.C.-based YGC is a mineral exploration company.
| Issuer: | YGC Resources Ltd.
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| Issue: | Flow-through shares
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| Amount: | C$8.25 million
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| Shares: | 5.5 million (includes greenshoe for 500,000 shares)
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| Price: | C$1.50
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| Warrants: | No
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| Placement agent: | Pacific International Securities Inc.
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| Pricing date: | April 26
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| Upsized: | May 1
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| Settlement date: | June 1
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| Stock symbol: | Toronto: YGC
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| Stock price: | C$1.80 at close May 1
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| Stock price: | C$1.30 at close June 1
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