Proceeds fund the Jerritt Canyon Gold Project, general working capital
By Devika Patel
Knoxville, Tenn., May 18 - Yukon-Nevada Gold Corp. said Thursday that it settled an C$8.99 million non-brokered private placement of units. The deal priced for C$7 million on May 14.
The company sold 39.1 million units at C$0.23 apiece. Each unit consists of one common share and one warrant. Each three-year warrant is 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 purposes.
The company also said it negotiated a C$6.9 million settlement of accounts payable by issuing 22.8 million shares at a deemed price of C$0.30 per share.
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$8,993,000
|
| Units: | 39.1 million
|
| 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
|
| Settlement date: | May 17
|
| Stock symbol: | Toronto: YNG
|
| Stock price: | C$0.27 at close May 11
|
| Market capitalization: | C$242.08 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
