CSE New Listing - Yukoterre Resources Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 27, 2019) - Yukoterre Resources (CSE: YT) is one of the latest new listings on the Canadian Securities Exchange, following its initial public offering. The company raised gross proceeds of $350,000 from the sale of 3.5 million shares priced at $0.10 per share, with PI Financial acting as agent for the IPO.
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The company is engaged in the acquisition and exploration of mineral properties. The company's current emphasis is on coal exploration in the Yukon Territory where it has a 100% interest in the Division Mountain Property, which is located 90 kilometers north-northwest of Whitehorse and 290 kilometers from tidewater at Skagway, Alaska.
There has been over a century of exploration activity in the Division Mountain area. The area of detailed exploration and historical resource definition at Division Mountain lies largely within five coal leases. These leases cover 776 hectares and under the Yukon Coal Regulations Act, the five coal leases grant coal mining rights for a renewable twenty-one year term that can be extended for additional twenty-one year periods.
In addition, the company holds four contiguous Territorial Coal Exploration Licences which cover a total area of 60,863 hectares. Under the Coal Regulations Act, these licences are valid for a three-year, renewable term. The licences cover potential coal-bearing, and possibly gas and oil-bearing strata within the Whitehorse Trough region.
Many portions of the licence areas have had little to no exploration for coal conducted on them, therefore, management believes there is the potential to identify new coal deposits at Division Mountain and the surrounding area, within the current licence holdings. Previous exploration efforts and recent Yukon government studies have also identified that the Division Mountain Area has the potential to host coal bed methane and conventional/unconventional petroleum resources.
For more information, please contact Kenny Choi, Corporate Secretary, at 416-861-2262 or email kenny.choi@FMresources.ca.
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