Yellowhead seeks to raise more capital

Yellowhead Mining Inc. announced Oct. 31 that the company proposes to complete a non-brokered private placement

Yellowhead Mining Inc. announced Oct. 31 that the company proposes to complete a non-brokered private placement of up to a maximum of 13,000,000 common shares at an issue price of $0.65 per share for gross proceeds of up to $8,450,000. In connection with the offering, the company has entered into a term sheet and has agreed to pay a finder’s fee equal to five per cent of the gross proceeds with respect to the issuance of up to approximately $5,000,000 of the offering.

The closing of the offering is expected to occur on or about Nov. 7, and is subject to all necessary regulatory and stock exchange approvals, including the TSX.

Greg Hawkins, chairman of the board and interim chief executive officer, reports: “The management team of professional engineers, finance, and permitting experts continues with their commitment to the task of building the Harper Creek Project. Following the closing of $5 million of the offering, we will have $10.5 million in working capital, including $8.2 million in cash, and we will be comfortably positioned to complete the newly defined critical path activities with BC Hydro and the permitting offices. Paul Sweeney, strategic corporate advisor to the company, and I have been working closely with CFO Saurabh Handa and the rest of the team to detail a medium and long term financing plan to get us through to start of construction and eventual production. With that in hand we can address the concerns of potential strategic partners and shareholders of Yellowhead.”

 

Yellowhead is developing a proposed open pit copper-gold-silver mine at Harper Creek, which is located about 10 km southwest of Vavenby.

 

 

Just Posted

Incumbents and acclaimed mayors win elections all across B.C.’s north

Fraser Lake saw their first female mayor elected

Mayoral results from across B.C.

Voters in 162 municipalities in B.C. set to elect mayor, council, school board and more

Every vote counts: 10 tightest races in B.C.’s municipal elections

Peachland saw their election decided by just one vote

Editor, The Times

Democracy is fragile, needs tending

Trekking Tales

Trekking with a difference—Part two

B.C. sailor surprised by humpback whale playing under her boat

Jodi Klahm-Kozicki said the experience was ‘magical’ near Denman Island

Around the BCHL: Chilliwack Chiefs snag spot in CJHL national rankings

Around the BCHL is a look at what’s happening in the BCHL and the junior A world.

Rural regions get priority for B.C. referendum mail-out

Ballot security measures aim to protect against voter fraud

B.C.’s natural gas supply could see 50% dip through winter due to pipeline blast

It’s been two weeks since the Enbridge pipeline ruptured near Prince George on Oct. 9, sparking a large fireball

Mega Millions, Powerball prizes come down to math, long odds

Biggest myth: The advertised $1.6 billion Mega Millions prize and $620 million Powerball prize aren’t quite real

2 Canadians advance to finals at world wrestling championships

Olympic champion Erica Wiebe just missed joining them with a loss 3-1 to three-time world champion Adeline Gray of the United States in the 76-kg event

VIDEO: Fire destroys historic small-town B.C. restaurant

Two people were injured as fire ripped through the Hedley restaurant around 2:30 a.m. Tuesday

B.C. town’s mayoral race a tie, come down to luck of the draw

Harry Gough led incumbent Cindy Fortin by one vote on election night Saturday

Outdoor retailer MEC vows to boost diversity after online complaint

Mountain Equipment Co-op was criticized for perpetuating a white-only picture of the outdoors

Most Read