Yukon-Nevada Gold Corp. announces issuance of inducement warrants
109,915,205 shares will be excluded from the vote, representing the total shares held by the holders of Existing Warrants.
Closing of the above transaction is subject to acceptance by disinterested shareholders of the Company and the TSX.
One insider, Sprott Asset Management Inc. as portfolio manager for various funds (collectively, "Sprott"), which hold an aggregate of 53,475,062 shares of the Company, will be entitled to participate in the issuance of Inducement Warrants. Upon exercise of its 10,000,000 Existing Warrants, Sprott will hold an aggregate of 63,475,062 common shares, 10,000,000 Inducement Warrants and 555,000 warrants (the "Warrants"). The maximum number of Shares to be issued to Sprott upon exercise of the Inducement Warrants, would be 10,000,000 Shares, being 2.67% of the Company's current issued and outstanding Shares or 2.60% of the Company's then issued share capital. Upon completion of the exercise of its Existing Warrants, Sprott would then hold, including currently held Shares, 16.09% of the Company's issued share capital. Upon exercise of the Inducement Warrants and the Warrants, Sprott would then hold 74,030,062 shares, being 18.76% of the Company's then issued and outstanding share capital.
In accordance with securities legislation currently in effect, the Inducement Warrants and the Inducement Warrant Shares will be subject to "hold period" of four months plus one day from the date of issuance of the aforesaid securities.
Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in
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The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
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For further information: Yukon-Nevada Gold Corp., Nicole Sanches, Investor Relations Manager, Tel: (604) 688-9427 ext 224, Email: [email protected], www.yukon-nevadagold.com; CHF Investor Relations, Jeanny So, Director of Operations, Tel: (416) 868-1079 ext. 225, Email: [email protected], www.chfir.com
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