Yukon Zinc proposes C$5 million private placement

By Sheri Kasprzak

New York, July 13 - Yukon Zinc Corp. intends to raise up to C$5 million in a private placement.

The offering includes up to C$3 million in flow-through shares and up to C$2 million in units of one share and one half-share warrant.

The full terms of the offering have not yet been determined.

The whole warrants will expire in one year.

The deal is scheduled to close July 31.

The placement is being conducted through a syndicate of agents led by Paradigm Capital Inc. and Blackmont Capital Inc. and including Dundee Securities Corp. and Canaccord Capital Corp.

Proceeds will be used for the development of the company's Wolverine project and for working capital.

Based in Vancouver, B.C., Yukon develops the Wolverine zinc-silver mine and explores for sulphide on the Finlayson district.

On July 12, the stock closed unchanged at C$0.335 (TSX Venture: YZC).

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