YORKTON VENTURES INC. ("YVI")
[formerly Yorkton Ventures Inc. ("YVI.P")]
BULLETIN TYPE: Qualifying Transaction-Completed/New Symbol, Private Placement-Non-Brokered, Convertible Debenture/s, Resume Trading
BULLETIN DATE: February 1, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company?s Qualifying Transaction described in its Filing Statement dated January 14, 2013. As a result, at the opening on Monday, February 4, 2013, the Company will no longer be considered a Capital Pool Company. In addition, effective at the open on Monday, February 4, 2013, the shares will resume trading. The Qualifying Transaction includes the following:
An agreement of purchase and sale dated November 29, 2012 (the ?Agreement?) between Yorkton and an arm?s length public company, Georox Resources Inc. [TSXV : ?GXR? ? Tier 2 Issuer - (the ?Vendor?)] pursuant to which the Company acquired the Gift Lake Assets. The Gift Lake Assets are comprised of interests in producing Slave Point light oil (1 well at 25% working interest) and producing Gilwood light oil (1 well at 45% working interest, 1 well at 15.198% working interest and 1 well at 1.875% working royalty interest) in the Gift Lake area of Alberta.
The aggregate consideration payable by the Company to the Vendor was a one time cash payment of $700,000 and the issuance of 500,000 shares.
In addition, the Company has entered into a participation option agreement with Trincan Capital Corp. (a TSXV listed, Tier 2 Oil and Gas Issuer, ?TRN?) whereby if Trincan proceeds with a test well on a 448 hectare area in the Nipisi area of Albert, the Company has the right to fund the test well on the basis of paying 6.7% of the costs to drill and complete the well in exchange for 6.7% working interest in project. The total costs are estimated at $1,500,000, with the Company?s share being $100,000.
The Exchange has been advised that the above transactions have been completed.
In addition, the Exchange has accepted for filing the following:
TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a Non-Brokered Private Placement announced November 30, 2012:
Convertible Debenture $300,000
Conversion Price: Convertible into units consisting of one common share and one common share purchase warrant at $0.10 of principal outstanding. The holder of the Debenture will not hold in excess of 9.99% of the issued and outstanding shares of the Company upon completion of the conversion.
Maturity date: 5 years from the date of issue
Warrants Each warrant will have a term of five years from the date of issuance of the notes and entitle the holder to purchase one common share. The warrants are exercisable at the price of $0.15 per share.
Interest rate: 10%
Number of Placees: 3 placees
Finder's Fee: $30,000 payable to 1724404 Alberta Ltd. (Dave Berg).
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
Capitalization: Unlimited shares with no par value of which
8,500,000 shares are issued and outstanding
Escrow: 5,000,000 shares
Symbol: YVI (same symbol as CPC but with .P removed)
Insider / Pro Group Participation: N/A
The Company is classified as an "oil and gas" company.
Company Contact: Randy Clifford (CFO, Corp. Sec., & Director)
Company Address: 6012 - 85 Avenue, Edmonton, AB, T6B 0J5
Company Phone Number: (780) 466-6006
Company Fax Number: None
Company Email Address: None
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