By Jennifer Chiou
New York, Feb. 27 - Yukon-Nevada Gold Corp. said it closed a non-brokered private placement of units to net C$1.04 million.
The company sold 17,333,333 units at C$0.06 each.
The deal was originally announced for 28,333,333 for proceeds of C$1.7 million.
Each unit consists of one common share and one warrant. The warrant is exercisable at C$0.08 for two years.
Yukon-Nevada also sold 10 million units at C$0.05 apiece for proceeds of C$500,000. Each of these units consists of one common share and two warrants. The series A warrants are exercisable at C$0.07 per share for one year while the series B warrants may be exercised at C$0.09 per share for 18 months.
Proceeds will finance the operations at the Jerritt Canyon property during the pre-startup phase as well as fund the necessary capital improvements required to the mill facility.
Yukon-Nevada is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Yukon-Nevada Gold Corp.
|
| Issue: | Units of one common share and one warrant; units of one common share and two warrants
|
| Total amount: | C$1.54 million
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 27
|
| Stock symbol: | Toronto: YNG
|
| Stock price: | C$0.075 at close Feb. 12
|
|
|
| Units of one common share and one warrant
|
| Amount: | C$1.04 million
|
| Units: | 17,333,333
|
| Price: | C$0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.08
|
|
|
| Units of one common share and two warrants
|
| Amount: | C$500,000
|
| Units: | 10 million
|
| Price: | C$0.05
|
| Warrants: | Two warrants per unit
|
| Warrant expirations: | One year for series A warrants; 18 months for series B
|
| Warrant strike prices: | C$0.07 for series A warrants; C$0.09 for series B warrants
|
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