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Wednesday, September 29, 2010

Mining Stocks; Yankee Hat (TSX VENTURE:KHT) Closes Second Tranche of Financing for $694,883

Mining Stocks;  Yankee Hat (TSX VENTURE:KHT) Closes Second Tranche of Financing for $694,883


VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog)   - Sept. 29, 2010) - Yankee Hat Minerals Ltd. ("Yankee Hat" or the "Company") (TSX VENTURE:KHT) has closed the second tranche of its previously announced private placement, for a total of $694,883 in gross proceeds.


"In total, Yankee Hat has now raised $1,597,208 through this financing," stated David Matousek, President. "These funds will allow Yankee Hat to focus on the upcoming drill program on the Fran property at Mount Milligan in British Columbia."
Yankee Hat has issued 11,052,270 shares at a price of $0.05 per non-flow-through unit, and 1,896,934 shares at a price of $0.075 per flow-through unit.
The Pro-Group participants in this second tranche are Peter Brown ($100,000) and Michael Winiker ($10,000) and the insider participating is Tarbo Resources ($33,500).
In connection with the offering, the company has paid the following finder's fees:
  • Raymond James Ltd., 408,024 warrants at an exercise price of 10 cents for a period of one year and a cash commission of $20,401;
  • PI Financial Corp., 18,000 warrants at an exercise price of 10 cents for a period of one year and a cash commission of $900; and
  • D & D Securities Inc., 90,000 warrants at an exercise price of 10 cents for a period of one year and a cash commission of $4,500.
The proceeds from the offering will be used for the fall drill program on the company's Fran property and for general working capital purposes.
All transactions remain subject to regulatory and corporate approval.
About Yankee Hat Minerals Ltd.Yankee Hat Minerals Ltd. is a publicly held resource company that utilizes its management's expertise in mineral exploration and evaluation, and financial acumen, to identify, acquire, and develop mineral prospects in mining friendly jurisdictions with the potential to host large-scale discoveries. The company strategically focuses on commodities that have strong underlying price fundamentals such as gold and precious metals, rare earth elements and tungsten. The Company's website at www.yankeehatminerals.com and public filings at www.sedar.com provide additional information on its projects and other information with respect to its management and operations.



ON BEHALF OF THE BOARD
"Brad Kitchen"
P. Bradley Kitchen, Chief Executive Officer


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Yankee Hat Minerals Ltd.
David Matousek
President
604.638.8072
604.688.9620 (FAX)
info@yankeehatminerals.com
www.yankeehatminerals.com
or
Investor Cubed Inc.
Neil Simon
647.258.3310 or Toll Free: 1.888.258.3323
nsimon@investor3.ca
www.investor3.ca

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