Yellowjacket Announces Private Placement

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[{"type":"text","content":"\nYellowjacket Announces Private Placement\n\nYellowjacket Announces Private Placement\nCranbrook, British Columbia CANADA, April 30, 2013 /FSC/ - Yellowjacket Resources Ltd. (YJK - TSX Venture), (\"Yellowjacket\") announces a non-brokered private placement offering (the \"Offering\"). Yellowjacket intends to issue up to 5,000,000 Units at a price of $0.12 per Unit, to raise gross proceeds of up to $600,000.  Each Unit will consist of one common share and one half share purchase warrant. Each whole warrant will entitle the holder to purchase one common share in the capital of the Company for a period of eighteen months from the date of closing at a price of $0.20 per share.\nThere warrants will be subject to an accelerator clause whereby the Company may require exercise of the Warrant if the Company's stock price trades at or above a volume weighted average of $0.30 for a period of more than 10 consecutive trading days (the \"Acceleration Event\"). The Warrants, if unexercised after the Acceleration Event, will expire upon 30 days from the date of notice in writing to the Warrant holder by way of issuing a news release.\nThe Offering is subject to the acceptance of the TSX-Venture Exchange. The Company may pay finder's fees in cash and/or securities of the Company in respect of the Offering.  All securities issued to purchasers and finders under the Offering will be subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the Exchange.\nThe proceeds of the Offering will be used for the exploration and development of the Company's Saskatchewan uranium projects, and for general working capital.\nPatterson Lake Area Claims\nYellowjacket is the largest mineral claim holder in the Patterson Lake area and currently controls 391,142 acres of uranium exploration claims along the southwest margin of the Athabasca Basin. The Patterson Lake area has received escalating exploration attention and claim acquisition activity as a result of the exploration results of Alpha Minerals Inc. and Fission Energy Corp.\nYellowjacket's Patterson Lake South Claim Group consists of two separate exploration projects: the Preston Lake claims and the Patterson East claims. The Preston Lake claims are centered approximately 26 kilometers southeast of ...

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