By Laura Lutz
Washington, Dec. 21 - Yukon Resources Corp. wrapped a private placement of flow-through and non flow-through units for C$2.975 million.
Accredited investors bought 950,000 flow-through units at C$0.50 apiece and 5 million non flow-through units at C$0.50 apiece.
Each flow-through unit consists of one flow-through share and one half-share warrant. Each non flow-through unit consists of one non flow-through share and one warrant.
The warrants from both sets of units are each exercisable for one non flow-through share at C$0.75 until Dec. 15, 2008.
Dundee Securities Corp. acted as agent for the deal.
Proceeds will be used for exploration on the company's Sagar property in the Labrador Trough in Quebec.
Yukon is a uranium exploration company based in Toronto.
| Issuer: | Yukon Resources Corp.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant and units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$2.975 million
|
| Agent: | Dundee Securities Corp.
|
| Settlement date: | Dec. 21
|
| Stock symbol: | Toronto: YK
|
| Stock price: | C$0.94 at close Dec. 20
|
|
|
| Flow-through units
|
| Units: | 950,000
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 15, 2008
|
| Warrant strike price: | C$0.75
|
|
|
| Non flow-through units
|
| Units: | 5 million
|
| Price: | C$0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Dec. 15, 2008
|
| Warrant strike price: | C$0.75
|
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