Vancouver,
BC - February 27, 2009 - Yukon-Nevada Gold Corp. (Toronto Stock Exchange:
YNG; Frankfurt Xetra Exchange: NG6) Graham Dickson, the President of Yukon-Nevada Gold Corp. (the
"Company"), announces that the Company has closed two
non-brokered private placement as follows:
1. 17,333,333 units ("Unit 1") at a price of $0.06 per
Unit 1 to net the treasury an aggregate of $1,040,000. A finder's fee
was paid in respect of a portion of the private placement.
Each Unit 1
consists of one common share (a "Share") and one Share purchase
warrant (the "Warrant"). The Warrant can be exercised to
purchase one additional Share (the "Warrant Share") at a price of
$0.08 within 24 months of closing of the private placement.
In accordance with securities legislation currently in effect, the
Shares, the Warrants and the Warrant Shares will be subject to "hold
period" of four months plus one day expiring on June 26, 2009.
2. 10,000,000 units ("Unit 2") at a price of $0.05 per
Unit 2 to net the treasury an aggregate of $500,000. A finder's fee
was paid in respect of the private placement.
Each Unit 2
consists of one common share (a "Share") and two series of Share
purchase warrants. The first warrant (the "Series "A"
Warrant") can be exercised to purchase one additional Share (the
""A" Warrant Share") at a price of $0.07 per share
within 12 months of closing of the private placement and the second warrant
(the "Series "B" Warrant") can be exercised to purchase
one additional Share (the ""B" Warrant Share")at a price of $0.09 per share within 18 months of
closing of the private placement.
In accordance with securities legislation currently in effect, the
Shares, the "A" Warrants, the "B" Warrants, the
"A" Warrant Shares and the "B" Warrant Shares will be
subject to "hold period" of four months plus one day expiring on
June 25, 2009.
The proceeds from this private
placement will finance the operations at the Jerritt
Canyon property during the mill pre-start up phase as well as partially
fund the necessary capital improvements required to the mill
facility.
The TSX has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy 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.
|