By Sheri Kasprzak
New York, Oct. 14 - Yukon Zinc Corp. said it has priced its previously announced C$7 million private placement.
The company intends to sell 22,727,272 units at C$0.22 each and 9,090,909 flow-through shares at C$0.22 each.
The units include one share and one half-share warrant. The whole warrants are exercisable at C$0.25 each for two years.
A syndicate of placement agents comprised of Paradigm Capital Inc., Blackmont Capital Inc., Dundee Securities Corp. and Canaccord Capital Corp. has an over-allotment option for up to C$3 million.
The deal is expected to close Oct. 20.
Proceeds will be used for development activities once a bankable feasibility study is completed and continued marketing activities at the company's Wolverine project. The rest will be used for working capital.
Based in Vancouver, B.C., Yukon Zinc is a mineral exploration company.
| Issuer: | Yukon Zinc Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$7 million
|
| Placement agents: | Paradigm Capital Inc., Blackmont Capital Inc., Dundee Securities Corp., Canaccord Capital Corp.
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 20
|
| Stock price: | C$0.22 at close Oct. 13
|
|
|
| Units
|
| Units: | 22,727,272
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
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| Warrant strike price: | C$0.25
|
|
|
| Flow-through shares
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| Shares: | 9,090,909
|
| Price: | C$0.22
|
| Warrants: | No
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