Yankee Hat Announces Closing of Private Placement With the MineralFields Group

Yankee Hat Minerals (TSXV:KHT) announced that it has closed a private placement with MineralFields.

The press release is quoted as saying:

The Company will pay Limited Market Dealer Inc.a cash commission equal to 5% of the proceeds of the sale of Units by LMD and will issue to LMD such number of finder’s compensation options as is equal to 9% of the number of Units sold by LMD in the Offering . Each Agent’s Option will entitle LMD to purchase a unit at an exercise price of $0.10 per Agent’s Unit until June 3, 2012. Each Agent’s Unit is comprised of one Share and one half of a non-transferable share purchase warrant . Each whole Agent’s Warrant will entitle the holder thereof to purchase one additional Share at the price of $0.12 until June 3, 2012.

P. Bradley Kitchen, CEO of the Company says:

 “This is an important milestone in the growth of Yankee Hat Minerals Ltd. and we look forward to working with MineralFields Group as we develop the Fran Property in central British Columbia.”

To access the full release, click here.