/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
CALGARY, Aug. 10, 2018 /CNW/ - Yellowhead Mining
Inc. ("Yellowhead" or the "Company") (TSX-V: YMI) announces
further details regarding the participation of insiders on its
rights offering that closed on August 1,
2018 (the "Rights Offering").
Rights Offering
To Yellowhead's knowledge after reasonable inquiry, (a) under
the basic subscription privilege, 5,642,943 common shares were
issued to persons who were insiders of the Company before the
Rights Offering, and 1,106,451 common shares were issued to all
other persons, and (b) under the additional subscription privilege,
1,792,220 common shares were issued to persons who were insiders
before the Rights Offering, and 224,511 common shares were issued
to all other persons.
A summary of the insiders and other persons who purchased common
shares under the Rights Offering include:
|
|
|
Common
Shares
|
|
Pre Rights
Offering
|
Basic
|
Additional
|
Total
|
%
|
Matco Investments
Ltd
|
3,987,203
|
3,389,122
|
1,307,619
|
8,683,944
|
45.52%
|
Taseko Mines
Limited
|
1,908,022
|
1,621,817
|
484,601
|
4,014,440
|
21.04%
|
T. Gregory
Hawkins
|
743,534
|
632,004
|
-
|
1,375,538
|
7.21%
|
Total
Insiders
|
6,638,759
|
5,642,943
|
1,792,220
|
14,073,922
|
73.77%
|
Other
Persons
|
3,674,329
|
1,106,451
|
224,511
|
5,005,291
|
26.23%
|
|
10,313,088
|
6,749,394
|
2,016,731
|
19,079,213
|
100.00%
|
Matco Investments Ltd. ("Matco"), of 4900, 525- Eighth
Avenue SW, Calgary, AB. T2P
1G1, acquired 3,389,122 common shares under the basic subscription
privilege and 1,307,619 common shares under the additional
subscription privilege for a total of 4,696,741 common shares, all
at a price of $0.12 per share. Matco
now owns 8,683,944 common shares of the Issuer. Matco
previously held 3,987,203 common shares (38.66%) of the Company
prior to the Rights Offering and now holds 8,683,944 common shares
(45.52%) of the 19,079,213 outstanding common shares of the
Company. Matco acquired the additional Common Shares for investment
purposes and may acquire or dispose of its common shares of the
Company in the future but has no current plans or intentions to do
so. Matco has filed on SEDAR under Yellowhead's profile an
early warning report under applicable Canadian securities laws, a
copy of which may be obtained from Ryan F.
Jennings by calling 403-294-0101.
About Yellowhead Mining Inc.
Yellowhead Mining Inc. is a development stage company with a
100% interest in the Harper Creek Project, located in the
North Thompson - Nicola region of
British Columbia, Canada.
About the Harper Creek Project
Harper Creek is a proposed 70,000
tonnes-per-day open pit copper mine with a 28 year mine life,
located in the Thompson – Nicola
region of British Columbia near
Vavenby. If developed, Harper
Creek will provide up to 600 jobs during construction and up
to 450 permanent jobs during operations.
Forward Looking Statements
Except for statements of historical fact, this news release
contains certain "forward-looking information" and "forward-looking
statements" within the meaning of applicable securities laws.
Forward-looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur.
Forward-looking statements and information include statements
regarding the completion of the Rights Offering. Forward-looking
statements are based on the opinions and estimates of management at
the date the statements are made, and are subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those anticipated in
the forward-looking statements, including, among others, receipt of
TSX and securities regulatory approvals, completion of the Rights
Offering, the gross proceeds raised by Yellowhead under the Rights
Offering, the use of proceeds, the exercise of rights by Matco, the
accuracy of mineral grades and related assumptions, inherent
operating risks, planned expenditures, proposed exploration and
development at the Harper Creek Project, operating and economic
aspects of the Harper Creek Project, as well as those risk factors
identified in the Company's Annual Information Form filed under the
Company's SEDAR profile. Yellowhead undertakes no obligation to
update forward-looking information if circumstances or management's
estimates or opinions should change except as required by law. The
reader is cautioned not to place undue reliance on forward-looking
statements. More detailed information about potential factors that
could affect projected results is included in the documents filed
from time to time with the Canadian securities regulatory
authorities by Yellowhead.
SOURCE Yellowhead Mining Inc.