Mercator Gold to sell up to £4m worth of shares to YA Global company news imageMercator Gold (LON:MCR) announced today that they have entered into a standby equity distribution agreement for up to £4m with YA Global Master SPV. The UK-based resources company with projects in Western Australia and New Zealand confirmed it will be selling up to £4m worth of shares to YA Global over a period of 30 months.

According to the report, the purchases will take place in tranches at such times and in such amounts as exclusively determined by Mercator. YA Global will then be contractually prohibited from short selling shares, and will generally not be required to purchase shares if its beneficial ownership exceeded 2.99%.

Yorkville Advisors, who advise YA Global is an investment manager with its headquarters in Jersey City, New Jersey.

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