By Sheri Kasprzak
New York, Oct. 24 - Yukon Zinc Corp. said it has closed its previously announced private placement for C$9,999,990, which includes the exercise of an over-allotment option.
The company issued 21,033,000 units at C$0.22 each and 24,421,500 flow-through shares at C$0.22 each. A syndicate of placement agents comprised of Paradigm Capital Inc., Blackmont Capital Inc., Dundee Securities Corp. and Canaccord Capital Corp. exercised a greenshoe for C$2,999,990.
The deal was priced on Oct. 14 as a C$7 million deal composed of 22,727,272 units and 9,090,909 flow-through shares under the same terms.
The units include one share and one half-share warrant. The whole warrants are exercisable at C$0.25 each for two years.
Proceeds will be used for development once a bankable feasibility study is completed and for continued marketing of 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$9,999,990 (includes greenshoe for C$2,999,990)
|
| Placement agents: | Paradigm Capital Inc., Blackmont Capital Inc., Dundee Securities Corp., Canaccord Capital Corp.
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 21
|
| Stock price: | C$0.22 at close Oct. 13
|
| Stock price: | C$0.21 at close Oct. 21
|
|
|
| Units
|
| Units: | 21,033,000
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
|
|
| Flow-through shares
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| Shares: | 24,421,500
|
| Price: | C$0.22
|
| Warrants: | No
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