VANCOUVER, May 14, 2012 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) (the "Company") announces that the Company has negotiated a $7,000,000 non-brokered
private placement to sell up to 30,434,782 units (the "Units") at a
price of $0.23 per Unit. There is no finder's fee payable on the
private placement.
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
$0.40 per share within 36 months of closing of the private placement.
If the closing price of the Company's shares is at or above $0.75 per share for 10 consecutive trading days, the Company may accelerate
the expiry date of the warrants on giving 30 days' written notice to
the Warrant holders.
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.
The proceeds of the private placement transaction will be used on the
Company's Jerritt Canyon Mine and for general working capital purposes.
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 Canada and in
Nevada in the United States. The Company's focus has been on the
acquisition and development of late stage development and operating
properties with gold as the primary target. Continued growth will occur
by increasing or initiating production from the Company's existing
properties.
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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 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.
