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Toronto, Canada, November 19, 2007,
Yukon Gold Corporation, Inc. ("Yukon Gold" or the
"Company"), (TSX:YK) (OTCBB:YGDC)(Frankfurt : W8Y) announced today that it has closed the final
tranche of its $2.8 million private placement with Northern Securities Inc.
("Northern"), announced on July 24, 2007 (the
"Financing").
This final tranche of the Financing was comprised of the sale of 2,438,888
units (the "Units") at $0.45 per Unit (the "Unit Issue
Price") for gross proceeds of $1,097,499.60 and the sale of 1,071,770
flow through units (the "Flow-Through Units") at $0.52 per
Flow-Through Unit (the "Flow-Through Unit Issue Price") for gross
proceeds of $557,320.40, raising aggregate gross proceeds of approximately
$1,654,820.00.
Each Unit consists of one non-flow through common share ("Common
Share") and one half of one Common Share purchase warrant (each whole
warrant, a "Warrant"). Each Warrant is exercisable into one
Common Share until November 16, 2009 at an exercise price of $0.60 per
share. Each Flow-Through Unit consists of one flow-through common share and
one half of one Common Share purchase warrant (each whole warrant, an
"FT Warrant"). Each FT Warrant is exercisable into one Common
Share until November 16, 2009 at an exercise price of $0.70 per share.
Yukon Gold paid Northern a commission equal to 8% of the aggregate gross
proceeds and issued 195,111 "Unit Compensation Options" and 85,741
"FT Unit Compensation Options". Each Unit Compensation Option is
exercisable into one Unit at the Unit Issue Price until November 16, 2009. Each
FT Unit Compensation Option is exercisable into one Common Share and one
half of one Warrant at the Flow-Through Unit Issue Price until November 16,
2009.
The proceeds of the Financing will be used for the exploration and
development of Yukon Gold's properties, and for working capital.
Yukon Gold has obtained shareholder approval by way of written consent for
the closing of the Financing from holders of a majority of the outstanding
securities of Yukon Gold giving effect to the Financing pursuant to and in
accordance with the rules of the Toronto Stock Exchange.
The securities being offered have not been registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S.
persons absent U.S. registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an offer for
sale of securities in the United States.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public
exploration and development company. The Company's main focus is its
recently acquired VMS deposit (Marg Property), which has a 43-101 compliant
resource and its Mount Hinton gold and silver exploration project, both
located in the Central Yukon Territory of Canada. These properties lie
within the Tombstone Gold Belt, world renowned for the discovery of major
gold and base metal deposits. Currently, there are approximately 25.5
million of the Company's common shares outstanding.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended. Except for
statements of historical fact relating to the company, certain information
contained herein constitutes forward-looking statements. Forward-looking
statements are frequently characterized by words such as "plan,"
"expect," "project," "intend,"
"believe," "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements are
based on the opinions and estimates of management at the date the
statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results
to differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties
involved in interpreting drilling results and other ecological data,
fluctuating metal prices, the possibility of project cost overruns or
unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future and other
factors.. The Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance on
forward-looking statements.
CONTACT INFORMATION
Corporate Inquiries
Paul Gorman CEO
(416) 865-9869
pgorman@yukongoldcorp.com
Company Website: http://www.yukongoldcorp.com
Bruce Hodgman
Investor Relations
(905) 582-9744
Toll Free (800) 295-0671
bhodgman@yukongoldcorp.com
Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/YukonGold
YK@agoracom.com
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