Each Unit consists of one common share and one common share purchase warrant (the "Warrant").
Each Warrant entitles the holder to purchase one common share at an exercise price of $0.20 per common share until December 15, 2017.
The securities issued in connection with this Financing will be subject to a statutory hold period of four months and a day which expires on April 16, 2015. Finder’s fees associated with the flow through Financing were paid in cash to Secutor Capital Management in the amount of $10,500.
The net proceeds raised through the Financing will be used, in the case of the FT Shares, to incur "Canadian exploration expenses" in respect of the Company’s Yukon properties as defined in the Income Tax Act (Canada) as well as, in the case of the Units, for exploration and development of Canadian mineral properties and for general working capital purposes.
The Company also announces that pursuant to the Company’s Stock Option Plan, a total of 2,850,000 incentive stock options have been granted to directors, officers, charities and consultants of the Company. The options are exercisable at a price of $0.12 per share for a period of 10 years, subject to regulatory approval.
