Yellowhead Mining Closes First Part of Non-Brokered Financing

Yellowhead Mining (TSX:YMI) completed the first installment of its previously announced non-brokered private placement of common shares of the Company at an issue price of $0.65 per Common Share.

As quoted in the press release:

An aggregate of 7,692,307 Common Shares were issued to one investor for gross proceeds of approximately $5,000,000. In connection with the Offering, the Company paid a finder’s fee of $250,000 equal to 5% of the gross proceeds.

Yellowhead Mining Chairman of the Board and Interim CEO T. Greg Hawkins said:

The management team will now continue with the critical path items, including permitting, BC Hydro initiatives and continued resource development through an aggressive drilling program to commence immediately. Ongoing discussions with strategic partners are progressing on a number of fronts. We look forward to an active winter program.

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