Yukon Gold arranges private placement of units for up to $7.2 million

By Sheri Kasprzak

Atlanta, April 13 - Yukon Gold Corp. Inc. said it will raise up to $7.2 million in a private placement.

The offering includes up to 5 million units and up to 2 million flow-through units.

The units include one share and one half-share warrant. The whole warrants allow for an additional share for two years.

The pricing of the offering, which will not be available to U.S.-based investors, has yet to be determined, according to the company.

The deal is expected to close May 30.

Union Securities Ltd. is the placement agent.

Based in Toronto, Yukon is a gold exploration and development company. It plans to use the proceeds for development and exploration on its sulphide resource and gold-silver property in the Yukon. The proceeds may also be used for potential property acquisitions.

The company's stock closed up $0.03 at $1.11 on Wednesday.

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