Yukon Zinc Corporation

Yukon Zinc Corporation

June 08, 2007 12:23 ET

Yukon Zinc Corporation Closes C$5 Million Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2007) -


Yukon Zinc Corporation (TSX VENTURE:YZC) is pleased to announce that it has closed the brokered private placement financing announced on May 22, 2007. The private placement consisted of 16,130,000 Flow-Through Common Shares at a price of C$0.31 per share for proceeds of C$5,000,300 ("the Offering"). The Offering was placed by a syndicate led by Paradigm Capital Inc., and including Canaccord Adams, Dundee Securities Corporation and Orion Securities Inc., collectively (the "Agents"). The securities sold under the Offering will be subject to a mandatory hold period that expires on October 9, 2007. The Agents received on closing a cash commission equal to 6% of the gross proceeds of the Offering.

The proceeds of the Offering will be used for ongoing activities at the Wolverine project, including underground portal maintenance and related support costs, and site access road development.

Yukon Zinc Corporation is focused on the development of the Wolverine deposit as the Yukon's next significant zinc-silver mine and the exploration of the Finlayson District as Canada's newest Volcanogenic Massive Sulphide District.

The securities comprising the Offering have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to complete the proposed financing, failure to obtain necessary regulatory or shareholder approvals, exploration and other risk factors beyond its control and actual results may differ materially from the expected results.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Yukon Zinc Corporation
    Dr. Harlan Meade
    President and CEO
    (604) 682-5474 or Toll Free: 1-877-682-5474