Yukon-Nevada Gold Corp. announces private placement



    VANCOUVER, Aug. 10 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) Robert Baldock, President of
Yukon-Nevada Gold Corp. (the "Company"), announces that the Company has
negotiated a $4,000,000 non-brokered private placement to sell up to
40,000,000 units (the "Units") at a price of $0.10 per Unit. The placement
will be closed in tranches, the first tranche having closed on Friday 7th
August representing new Capital of $1,882,972 for which the Company issued
18,829,720 units. The second tranche is expected to close shortly and will be
the subject of a further news release.
    Each Unit will consist of one common share (a "Share") and one share
purchase warrant (the "Warrant"). The warrant can be exercised to purchase one
additional common share (a "Warrant Share") at a price of $0.125 per share
within 30 months of closing of the private placement. There was no finder's
fee payable on the private placement.
    In accordance with securities legislation currently in effect, the
Shares, the Warrants and the Warrant Shares will be subject to a "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 to
re-start mill operations at the Company's Jerritt Canyon Mine, Nevada upon
completion of the Consent Decree, presently being negotiated with the Nevada
Department of Environmental Protection and for general working capital
purposes.

    If you would like to receive press releases via email please contact
nicole@yngc.ca and specify "Yukon-Nevada Gold Corp. releases" in the subject
line.

    
    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 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.
    %SEDAR: 00004098E




For further information:

For further information: Yukon-Nevada Gold Corp., Nicole Sanches,
Investor Relations Manager, Tel: (604) 688-9427, Email: nicole@yngc.ca,
www.yukon-nevadagold.com; CHF Investor Relations, Jeanny So, Director of
Operations, Tel: (416) 868-1079 ext. 250, Email: jeanny@chfir.com,
www.chfir.com

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