Columbia Yukon Announces Non Brokered Private Placement
05 4월 2011 - 4:31AM
Marketwired
Columbia Yukon Explorations Inc. (the "Company" or "Columbia
Yukon") (TSX VENTURE: CYU)(FRANKFURT: VOR) announces that, subject
to regulatory approval, it intends to proceed with a non-brokered
private placement (the "Private Placement") to raise up to $450,000
by the issuance of 3,000,000 non-flow through units (the "Units")
at $0.15 per Unit. Each Unit will consist of one common share and
one share purchase warrant, with each warrant entitling the holder
to purchase an additional common share at a price of $0.20 for a
period of two years from the closing date. With respect to this
Private Placement, the Company may pay finders' fees in the amount
of 7% of the proceeds raised from the sale of the Units (payable in
cash or Units at a deemed price of $0.15 per Unit) purchased by
subscribers introduced to the Company by such finders.
The Company intends to use the proceeds from this Private
Placement for general working capital purposes and for furthering
the exploration and development of the Company's Storie Property
molybdenum project. In particular, the Company intends to use a
portion of the proceeds to fund a preliminary economic assessment
("PEA") to be prepared by AMEC Americas Limited ("AMEC"), who have
recently been engaged to prepare this Report.
About Columbia Yukon Explorations Inc.
Columbia Yukon is a Canadian mineral exploration company focused
on the development of its Storie Property molybdenum deposit
situated about 6 km southwest of Cassiar, British Columbia. The
Storie Property molybdenum deposit has an April 2009 updated NI
43-101 compliant Measured and Indicated Resource of 139.82 million
tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39
million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off
of 0.030% Mo). Cassiar, British Columbia is located 15 km by road
west of Highway 37 which connects to Watson Lake, Yukon, to the
north and Dease Lake and Stewart , British Columbia, to the
south.
Columbia Yukon Explorations Inc.
Douglas L. Mason, Director (Chairman)
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Columbia Yukon Explorations Inc. Mr. Clive Shallow,
Investor Communications 604-922-2030 or Canada (toll free):
1-888-888-9122 USA (toll free): 1-888-888-9123 604-922-2037 (FAX)
info@columbiayukon.com www.columbiayukon.com
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