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RICHMOND, BC, March 2 /CNW/ - Yellowhead Mining Inc. (the "Company" or "YMI") is pleased to announce that it has engaged CI Capital Markets Inc. ("CICM") as sole lead agent to raise a minimum of $2 million and a maximum of $5 million by way of a marketed, best efforts private placement of special warrants (the "Special Warrants") from treasury, each Special Warrant being exchangeable into one common share of the Company ("the Offering").
The Company plans to use proceeds from the private placement to advance its Harper Creek project towards feasibility and for working capital and general corporate purposes. The Offering terms will be contingent upon market conditions and will be subject to due diligence by CICM.
The Offering will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States, or to or for the account or benefit of, U.S. persons without registration or pursuant to an applicable exemption from U.S. registration requirements.
This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy, securities.
Ronald Handford, Chief Executive Officer of YMI, stated, "We are pleased to develop this relationship with one of the premier independent mining investment banks in Canada, especially at the time of their launch as a new, entrepreneurial, employee-owned entity. We believe our Harper Creek project in British Columbia is well-positioned, considering financial and commodity markets timing and our favourable infrastructure, operational characteristics and comparatively low international political risk".
About CI Capital Markets Inc.
Certain employees of CI Capital Markets Inc. ("CICM"), formerly the Capital Markets group of Blackmont Capital Inc., have entered into a definitive agreement to buy CICM from CI Financial Corp. The agreement is effective as of February 1st, 2010, with formal closing to occur shortly, subject to regulatory approval.
CICM provides quality independent research, experienced equity sales and trading coverage to institutional clients, and investment banking services to corporate clients.
About Yellowhead Mining Inc.
Yellowhead Mining is a private Canadian company with a 100%-owned position (subject to a $500,000 option payment) in the Harper Creek copper-gold-silver advanced exploration project in south-central British Columbia, approximately 90 kilometres from Kamloops. Harper Creek offers exceptional potential as one of the largest copper pre-development projects in Canada.
On Behalf of the Board
YELLOWHEAD MINING INC.
Ronald Handford, P.Eng.
Chief Executive Officer
No regulatory authority has approved or disapproved the information contained in this newsletter. This newsletter includes certain statements that may be deemed "forward-looking statements". All statements in this newsletter, other than statement of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors should be cautious in that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.
SOURCE Yellowhead Mining Inc.
For further information: For further information: Contact: (604) 273-5597