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Yukoterre Resources closes $350,000 IPO

2019-09-24 17:36 ET - News Release

Mr. Kenny Choi reports

YUKOTERRE RESOURCES INC. COMPLETES INITIAL PUBLIC OFFERING

Yukoterre Resources Inc., on Sept. 24, 2019, completed its initial public offering (IPO) of 3.5 million common shares in its capital at a price of 10 cents per share for gross proceeds of $350,000. The net proceeds from the IPO will be used for working capital and to carry out the phase 1 exploration program at the Division Mountain coal deposit, located at latitude 61 degrees 20 minutes north and longitude 136 degrees five minutes west on NTS map sheet 115 H/8, 90 kilometres north-northwest of Whitehorse and 290 kilometres from tidewater at Skagway, Alaska mining division, British Columbia.

PI Financial Corp. acted as agent for the IPO. The agent received a cash commission and a corporate finance fee in consideration for its services. Additionally, the company has granted the agent compensation options entitling the holder to purchase in aggregate 245,000 shares at a price of 10 cents per share, exercisable on or before Sept. 24, 2021.

The shares were approved for listing on the Canadian Securities Exchange on Sept. 20, 2019, and will begin trading on Sept. 25, 2019, under the symbol YT.

About Yukoterre Resources Inc.

Yukoterre is engaged in the business of mineral exploration and the acquisition of mineral property assets in the Yukon. Its objective is to locate and develop mineral properties of merit and to conduct its exploration program on the Division Mountain property.

We seek Safe Harbor.

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