March 30, 2010 (FinancialWire) — Yukon-Nevada Gold Corp. (TSX: YNG) said it has closed its $5 million non-brokered private placement for a total of 22,727,272 common shares at a price of $0.22 per Share.

According to Yukon, there was no finder's or commission fee payable on the private placement.

In accordance with securities legislation currently in effect, the Shares will be subject to "hold period" of four months plus one day expiring on expiring on July 27, 2010.

Yukon plans to use the proceeds of the private placement to procure equipment and supplies for use during the firm’s annual shut down period, restocking the warehouse at the company's Jerritt Canyon Mine, Nevada and for general working capital purposes.

Canada-based Yukon-Nevada Gold is a North American gold producer in the business of discovering, developing and operating gold deposits. The company holds a portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Nevada in the United States.

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