August 17, 2010 – Douglas L. Mason announces that pursuant to a private placement transaction, he has purchased 2,000,000 units (the “Units”) of Columbia Yukon Explorations Inc. (the “Company”), at a price of $0.12 per Unit, for total consideration of $240,000. Each Unit is comprised of one common share (a “Common Share”) and one share purchase warrant (a “Share Purchase Warrant”) exercisable into 2,000,000 common shares. Mr. Mason now owns a total of 2,997,576 common shares of the Company, or approximately 7.12% of the Company’s issued and outstanding share capital. Prior to the purchase of the Units, Mr. Mason owned an aggregate of 997,576 common shares of the Company, representing approximately 2.55% of the Company’s issued and outstanding share capital.
Upon the exercise in full of 988,000 stock options (the “Stock Options”) previously granted to Mr. Mason and upon the exercise in full of the Share Purchase Warrants issued to Mr. Mason, Mr. Mason would own a total of 5,985,576 common shares of the Company, or approximately 13.27% of the Company’s issued and outstanding share capital, assuming no other common shares are issued by the Company.
Mr. Mason has relied on Section 2.3 of National Instrument 45-106 – Prospectus and Registration Exemptions in connection with the purchase of the Units. Mr. Mason has acquired the Units for investment purposes and may acquire further securities of the Company for investment purposes, in the market or privately, from time to time.
This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by Mr. Mason in connection with the acquisition of the Units is available on the Company’s SEDAR profile, and it can also be obtained directly from Mr. Mason by contacting him at the number shown above.
“Douglas L. Mason”
Douglas L. Mason
Neither the 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.