OAKVILLE, ON, Dec. 22 /CNW/ - Yukon Gold Corporation, Inc. (the
"Company") (OTCBB: YGDC) is pleased to announce it has entered into a
non-binding Letter of Intent (the "LOI") with District Gold Inc., a
private Ontario, Canada corporation.
The LOI contemplates, among other things described herein, the
acquisition of two groups of mining claims (the "Nevada Claims") in the
State of Nevada, one of which was a former producer.
Other matters provided for in the LOI are:
Re-domiciliation of the Company to the State of Nevada from the State of
Delaware by way of a merger into a wholly-owned Nevada subsidiary with
the same name (the "Nevada Subsidiary").
The Nevada Subsidiary will be authorized to issue 500,000,000 common
Following effectiveness of the re-domiciliation, the Nevada Subsidiary
will issue one (1) common share to the shareholders of the Company for
each five (5) shares they hold of the Delaware corporation prior to the
merger and re-domiciliation.
The purchase price of the Nevada Claims will be 70,000,000 common shares
of the Company, valued at US$0.03 per share, prior to the
re-domiciliation, or 14,000,000 shares of the Nevada Subsidiary, valued
at US $0.15 per share, post re-domiciliation.
Possible increase in the number of shares available under the 2006 Stock
The Company will seek shareholder approval for the re-domiciliation in
Nevada and any increase in shares available under the 2006 Stock Option
The LOI is conditional upon execution of a definitive agreement by
February 1, 2011 and the completion of a $2,000,000 financing by March
About Yukon Gold
Yukon Gold Corporation, Inc. is an exploration stage mining company,
going through a re-organization with the intent of increasing its value
to the shareholders.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the
United States Securities Exchange Act of 1934, as amended. Except for
statements of historical fact relating to the company, certain
information contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words such
as "plan," "expect," "project," "intend," "believe," "anticipate",
"estimate" and other similar words, or statements that certain events
or conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates of management at the date the
statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. These factors include the inherent risks
involved in the exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
ecological data, fluctuating metal prices, the possibility of project
cost overruns or unanticipated costs and expenses, uncertainties
relating to the availability and costs of financing needed in the
future and other factors. The Company undertakes no obligation to
update forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.
SOURCE GlobalMin Ventures Inc
For further information: For further information:
Lance Capital Ltd.
(905) 845-1073 or