Yukon-Nevada Gold Corp. Announces Completion of Convertible Debenture Financing Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6)(�YNG� or the �Company�) is pleased to announce that it has completed a private placement offering of CDN$6,000,000 principal amount of unsecured convertible debentures (the �Debentures�) to Whitebox Advisors LLC (�Whitebox� or the �Investor�). Odeon Capital Group, LLC served as exclusive placement agent to the Company on this transaction. The Company intends to use the proceeds for the development of Starvation Canyon mine, to expand production at the SSX/Steer mine and to commence work on the clean-up of historic rock disposal areas, one of the last items to be completed under the Consent Decree. These funds will enable the Company to maintain its focus on and momentum in ramping up ore production from the Jerritt Canyon property. The Company anticipates that this will be the final capital raise in this capital expenditure cycle and expects cash flows to cover future needs. Subject to meeting certain conditions, the Company has the option to require the Investor to subscribe for an additional CDN$4,000,000 principal amount of unsecured convertible debentures, on the same relative terms as the Debentures, four weeks after the closing date (the �Closing Date�). The Investor will also have the option, exercisable at any time prior to the date that is four (4) months from the Closing Date, to acquire up to CDN$2,000,000 principal amount of additional convertible debentures, at the same relative terms as the Debentures. The Debentures bear interest at a rate of 11% per annum and will mature 42 months from the Closing Date (the �Maturity Date�). At the option of the Investor, the principal amount of the Debentures and all interest accrued thereon will be convertible into common shares of the Company (the �Shares�) at any time after expiry of the four (4) month hold period of the Debentures and prior to the close of business on the Maturity Date, based on a conversion price equal to the greater of (a) CDN$0.15 and (b) the Market Price (as defined in the TSX Company Manual) of the Shares discounted by 5% per Share (the �Conversion Price�). Upon the Maturity Date, the Debentures and all interest accrued thereon may, at the Company�s discretion, be paid in cash, Shares (up to a maximum of 75%) or any combination of cash and Shares (up to a maximum of 75%). The Company may only elect to convert all or any part of the Debentures outstanding on the Maturity Date into, and pay to the Investor the principal sum of the Debentures in, Shares if the Market Price for the Shares for at least five (5) out of the ten (10) trading days preceding the date in which the Company delivers the Shares to the Investor (such date not to be less than twenty (20) days prior to the Maturity Date) is greater than CDN$0.20. The Investor will have the option to require early repayment in the event of default by the Company. The Company also paid the Investor a structuring fee equal to 10% of the principal amount of the Debenture through the issuance of 2,010,126 common shares of the Company (the �Structuring Shares�). The Company also issued 20,101,259 common share purchase warrants (the �Warrants�) to the Investor. Each Warrant entitles the holder thereof to purchase one Share at an exercise price of CDN$0.30 and will expire three (3) years following the Closing Date. The Debentures, the Shares, the Structuring Shares and the Warrants will be subject to a four (4) month hold period in accordance with applicable securities laws. About Yukon-Nevada Gold Corp. Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties
Yukon-Nevada is a gold development stage company based in Canada.
Yukon-Nevada holds various exploration projects in Canada.
Its main assets in production are JERRITT CANYON MINE, JERRITT CANYON, JERRITT CANYON-MURRAY, JERRITT CANYON - MURRAY ZONE 9, JERRY CANYON - SSX, JERRY CANYON - EAST SMITH, JERRY CANYON - SAVAL, JERRY CANYON - STARVATION, JERRY CANYON - WRIGHT WINDOW, JERRITT CANYON STOCKPILES, JERRY CANYON - UG RESOURCES, JERRY CANYON - SMITH and JERITT CANYON - PIT RESOURCES in USA, its main asset in development is KETZA RIVER MANTO ZONE in Canada and its main exploration properties are WOLF PROPERTY, MONEY CLAIMS, SILVER VALLEY PROPERTY, KETZA - SHAMROCK ZONE and KETZA RIVER in Canada.
Its stock quote reached its lowest recent point on December 12, 2008 at CA$ 0.02, and its highest recent level on February 12, 2013 at CA$ 2.95.
Yukon-Nevada has 930 644 000 shares outstanding.