Yukon-Nevada Gold Corp. announces private placement
Yukon-Nevada Gold Corp. Graham Dickson, the President of Yukon-Nevada Gold Corp., announces that the Company has negotiated a $600,000 non-brokered private placement to sell up to 12,000,000 units (the “Units”) at a price of $0.05 per Unit.
Each Unit will consist of one common share (a “Share”) and two series of share purchase warrants (the “Warrant”). The first warrant (the “Series “A” Warrant”) can be exercised to purchase one additional common share (a “Warrant Share”) at a price of $0.07 per share within 12 months of closing of the private placement and the second warrant (the “Series “B” Warrant) can be exercised to purchase a Warrant Share at a price of $0.09 per share within 18 months of closing of the private placement.
In accordance with securities legislation currently in effect, the Shares, the Warrants and the Warrant Shares will be subject to “hold period” of four months plus one day from the date of issuance of the aforesaid securities.
The proceeds of the private placement transaction will be used for operations at the Company’s Jerritt Canyon Mine, Nevada.
