Yukon Gold changes $7.2 million unit offering to special warrants offering

By Sheri Kasprzak

Atlanta, April 26 - Yukon Gold Corp. has changed its previously announced $7.2 million private placement to an offering comprised of special warrants instead of units.

The company will now sell up to 5 million special warrants and up to 2 million flow-through special warrants.

The warrants allow investors to acquire one common share and one half-share warrant. The special warrants will be automatically exercised the earlier of the receipt of the final prospectus or 181 days after closing. If the final prospectus and Canadian listing are not achieved within four months after closing, Yukon must issue additional securities equal to 10% of the amount subscribed for by investors.

The deal was first announced April 13 as being comprised of 5 million units and 2 million flow-through units, which included one share and one half-share warrant.

The pricing of the offering, which won't 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 property acquisitions.

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