By Devika Patel
Knoxville, Tenn., Nov. 19 - Yukon Gold Corp., Inc. raised C$1.65 million in the final tranche of a C$2.8 million private placement of units and flow-through shares. The deal priced for C$2 million with a C$500,000 greenshoe on June 20 and was upsized on July 24. The first tranche settled on Aug. 17 for C$1.15 million.
In this tranche, the company sold 2,438,888 units for C$1,097,499.60 and 1,071,770 flow-through units for C$557,320.40. The first tranche consisted of 1,916,666 non flow-through units for C$862,499.70 and 543,615 flow-through units for C$282,679.80.
As previously reported, the non flow-through units were sold at C$0.45 apiece; the flow-through units were sold at C$0.52 apiece.
Each non flow-through unit consists of one non flow-through share and one half-share non flow-through warrant with whole warrant exercisable at C$0.60 for two years.
Each flow-through unit consists of one flow-through share and one half-share non flow-through warrant with each whole warrant exercisable at C$0.70 for two years.
Northern Securities Inc. was the underwriter. Yukon Gold paid Northern an 8% commission and 195,111 unit compensation options and 85,741 flow-through unit compensation options. Each unit compensation option is exercisable into one unit at C$0.45 for two years. Each flow-through unit compensation option is exercisable into one common share and one half-share warrant at C$0.52 for two years.
Proceeds will be used for exploration and development and for working capital.
Yukon Gold is a Toronto-based mineral exploration and development company.
| Issuer: | Yukon Gold Corp., Inc.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant; units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$2.8 million
|
| Underwriter: | Northern Securities Inc.
|
| Fees: | 8% commission, 195,111 unit compensation options, 85,741 flow-through unit compensation options
|
| Pricing date: | June 20
|
| Upsized: | July 24
|
| Stock symbol: | Toronto: YK
|
| Stock price: | C$0.51 at close June 20
|
|
|
| Non flow-through units
|
| Price: | C$0.45
|
| Warrants: | One half-share non flow-through warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
|
|
| Flow-through units
|
| Price: | C$0.52
|
| Warrants: | One half-share non flow-through warrant
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
|
|
| First tranche
|
| Amount: | C$1,145,180
|
| Settlement date: | Aug. 17
|
|
|
| Non flow-through units
|
| Amount: | C$862,499.70
|
| Units: | 1,916,666
|
|
|
| Flow-through units
|
| Amount: | C$282,679.80
|
| Units: | 543,615
|
|
|
| Second tranche
|
| Amount: | C$1,654,820
|
| Settlement date: | Nov. 19
|
|
|
| Non flow-through units
|
| Amount: | C$1,097,499.60
|
| Units: | 2,438,888
|
|
|
| Flow-through units
|
| Amount: | C$557,320.40
|
| Units: | 1,071,770
|
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