Tyhee Announces Final Closing of Non-Brokered Unit Private Placement and Senior Unsecured Note Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2012) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SEVICES
Tyhee Gold Corp. (TSX VENTURE:TDC) (the "Company") announces that it has closed a final tranche of its non-brokered private placement on terms and conditions previously announced September 4, 2012. In this closing, the Company issued 2,500,000 common shares and 2,500,000 common share purchase warrants for aggregate proceeds of $225,000. Each Warrant entitles the holder to purchase a further 2,500,000 Shares in the Company at a price of $0.125 per Share, exercisable until October 29, 2014. All securities issued in this closing are subject to a 4-month hold period until March 1, 2013.
The Company has also determined to raise up to $1,000,000 by issuing senior unsecured notes (the "Notes"). The Notes are unsecured, bear interest at 10% per annum, and mature six months from the date of issuance. Both principal and interest are payable on maturity. The Company has issued $300,000 of Notes maturing April 29, 2013.
The funds will be used to advance its Yellowknife Gold Project, an advanced stage wholly-owned gold project in the feasibility study and permitting stage, as well as for general corporate purposes.
All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, including statements regarding the proposed use of funds and expectation of additional closings of the Note financing are "forward-looking statements". Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. Factors that may cause actual results to vary from those made in the forward-looking statements described in this document include: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; delays in obtaining approvals, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delays in completion of work necessary to complete the feasibility study, whether as a result of adverse weather conditions, contract or labour disputes, equipment failure, or response to regulatory enquiries in respect of permit applications; technological and operational difficulties encountered in connection with the activities of the company. This list is not exhaustive of the factors that may affect the forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the companies' forward-looking information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
GT Investor Relations Inc.
O: 905 337-7673 C: 416 605-5120
Tyhee Gold Corp.