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Columbia Yukon closes $1-million private placement
2012-11-05 12:22 ET - News Release
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Mr. Douglas Mason reports
COLUMBIA YUKON CLOSES PRIVATE PLACEMENT
Further to its news release dated Sept. 17, 2012, Columbia Yukon Explorations Inc. has closed its non-brokered private placement. The company has raised $1-million by the issuance of 20 million non-flow-through shares at a price of five cents per share. The shares were acquired by a director of the company, namely, Edward Yurkowski. All of the securities issued pursuant to this private placement are subject to a hold period expiring on March 3, 2013.
In connection with the closing of this private placement, a special general meeting of shareholders was convened and held on Oct. 30, 2012, and at such meeting, shareholders approved the creation of a new control person, as defined under the policies of the TSX Venture Exchange, which resulted from the subscription of common shares in the private placement by Mr. Yurkowski. As a result of such acquisition, Mr. Yurkowski, directly and indirectly, now owns or controls 41.33 per cent of the company's current issued and outstanding share capital.
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