/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
ANNOUNCES INCREASE IN SIZE OF PRIVATE PLACEMENT
TSX Venture: TDC
VANCOUVER, Dec. 18 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC) (the "Company") has completed a further closing of its 15,000,000 Flow Through Share financing announced on December 9, 2009. In this closing a total of 5,982,000 Flow Through Shares at a price of $0.20 per Flow Through Share were issued, for proceeds of $1,196,400. Loewen Ondaatjie McCutcheon Limited acted as agent for the placement. The Flow Through Shares are subject to a four month hold period expiring April 19, 2010
The Company and LOM expect to complete the entire private placement before December 31, 2009. The Company has elected to increase the size of the private placement by 4,390,000 Flow Through Shares, to cover over-subscriptions. The increase will result in an additional $878,000 in gross proceeds to the Company. The funds from the private placement will be used for further exploration and development of the Company's advanced-stage Yellowknife Gold Project.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Tyhee Development Corp. is a gold exploration and development company working in the historic Yellowknife Gold Camp, NWT, Canada. It is the largest property holder in this camp and has the largest exploration and development program underway in the region. Its principal asset is the Yellowknife Gold Project which includes the Nicholas Lake, Ormsby, Goodwin Lake (13 km south of the Ormsby Zone), and the Clan Lake Zones (27 km south of the Ormsby Zone). All are centrally located on mineral claims and mining leases 50 to 90 km north of Yellowknife, NWT. (Note: only Nicholas Lake and Ormsby Zones are been included for permitting purposes).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Tyhee Gold Corp.
For further information: For further information: Tyhee Development Corp., David Webb, President and CEO, Tel: (604) 681-2877, firstname.lastname@example.org; Envoy Strategic Partners, Jay Bedard, Tel: (647) 344-1768, email@example.com