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

Demonstrators take to Clearwater roundabout

Yellow vest protesters say it’s time for a change

Police chase ends in two arrests

Suspects in stolen truck evade RCMP from Alberta border to Clearwater area

Clearwater Rotary’s Christmas Light Up

Event draws both young and old to take part in its yearly activities.

Independent business in Blue River pays it forward

Blue River Sledz donates a generous amount of clothes to the less fortunate in Kamloops

Helping out

Area sorority donates to community charity

Trudeau to make it harder for future PM to reverse Senate reforms

Of the 105 current senators, 54 are now independents who have banded together in Independent Senators’ Group

B.C. VIEWS: Andrew Wilkinson on taxes, ICBC and union changes

Opposition leader sees unpredictable year ahead in 2019

5 tips for self-care, mental wellness this holiday season

Ministry of Mental Health and Addictions urging British Columbians to prioritize self care through festive season

Rescued B.C. cat with misshapen legs in need of forever home – with carpet

Mirielle was born with misshapen back legs and after a tough life on the streets, is looking for a forever home.

VIDEO: Craft growers will add to recreational market, cannabis producer says

Two B.C. men say their expertise in running small legal medical grow-ops a benefit to recreational market

World Sikh Organization demands Canada prove Sikh extremism is a threat

Sikh community says this is first time such extremism has been mentioned in federal terror-threat assessment

Risk of catching the flu increasing in B.C. this holiday season: BCCDC

Dr. Danuta Skowronski with the BC Centre for Disease Control says influenza will pick up during the holidays

Boeser has 2 points as Canucks ground Flyers 5-1

WATCH: Vancouver has little trouble with slumping Philly side

Man dies after falling from B.C. bridge

Intoxicated man climbed railing, lost his balance and fell into the water below

Most Read