Proceeds fund the Jerritt Canyon Gold Project, general working capital
By Devika Patel
Knoxville, Tenn., May 14 - Yukon-Nevada Gold Corp. said it has arranged a C$7 million non-brokered private placement of units.
The company will sell 30,434,782 units at C$0.23 apiece. Each unit consists of one common share and one warrant, with each three-year warrant exercisable at C$0.40, a 48.15% premium to the May 11 closing share price of C$0.27.
Proceeds will be used on the Company's Jerritt Canyon Mine and for general working capital.
Yukon-Nevada is a Vancouver, B.C.-based gold exploration company.
| Issuer: | Yukon-Nevada Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$7 million
|
| Units: | 30,434,782
|
| Price: | C$0.23
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | May 14
|
| Stock symbol: | Toronto: YNG
|
| Stock price: | C$0.27 at close May 11
|
| Market capitalization: | C$232.77 million
|
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