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Vancouver, BC - April 24, 2009 - Yukon-Nevada Gold Corp. (Toronto
Stock Exchange: YNG; Frankfurt Xetra
Exchange: NG6)
Graham Dickson, the President of Yukon-Nevada
Gold Corp. (the "Company"), announces that the Company has closed
its $720,000 non-brokered private placement for at total of 12,000,000
units (the "Units") at a price of $0.06 per Unit.� A finder's fee was paid on a portion of
the private placement.� In accordance
with Section 607(g)(i)
of the TSX Company Manual, as the maximum aggregate number of securities
issuable by the Company pursuant to private placements closed on February
27, 2009 and this private placement aggregate 93,199,998 shares (including
any finder's fees), or 34.18% of the Company's issued and outstanding share
capital prior to completion of the above private placements, closing of the
private placement was subject to shareholder approval, which has been
received.
Each Unit will consist of one common
share (a "Share") and one share purchase warrant (the
"Warrant"). �The Warrant can be
exercised to purchase one additional common share (a "Warrant
Share") at a price of $0.08 per share within 24 months of closing of
the private placement.
One director of the Company, Robert E. Chafee, is participating in the private placement and is
subscribing for 3,333,333 Units. �The maximum number of
Shares to be issued to Mr. Chafee, including Shares underlying the
Warrants, would be 6,666,666 Shares, being 2.21% of the Company's current
issued and outstanding Shares or 2.13% of the Company's then issued share
capital.� Upon completion of the
private placement and the exercise of his Warrants, Mr. Chafee now holds,
including currently held Shares, 3.61% of the Company's issued share
capital.
In accordance with securities legislation currently in effect, the Shares, the Warrants and the Warrant Shares will be subject to "hold period" of four
months plus one day from the date of
issuance of the aforesaid securities expiring on August 25, 2009.
The proceeds of the private placement transaction will be used for
the resumption of milling at the Company's Jerritt
Canyon Mine, Nevada and for
working capital.
The TSX has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United States.
The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
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