VANCOUVER, British Columbia, Sept. 01, 2023 (GLOBE NEWSWIRE) — Yogo Sapphire International has announced a non-brokered private placement to raise up to $320,000, from the placement of up to 4 million shares priced at $0.08 per share.

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Net proceeds will be used for working capital purposes and to advance the company towards making an application to list on the CSE. The offering is available to accredited investors at this link on Capiche.io.

Yogo Sapphire has signed a non-binding letter of intent to acquire all the outstanding shares of YoGoldUSA Corp., which holds a lease, with the option to purchase, on the Yogo Mine in Montana. It is expected that the definitive agreement between Yogo Sapphire and YoGoldUSA will be signed within 30 days.

“The sapphires from the historic deposit at Yogo Gulch, Montana, are noted for their deep, uniform color and their brilliance when cut. Unlike most sapphires on the market today, they are not heat treated. The largest known cut Yogo sapphire weighs 10.2 carats and is presently in the collection of the Smithsonian Institution.” Gem & Gemology, Spring, 1995

“Most corundum deposits worldwide are found in alluvial deposits and their source is uncertain. However, a rare sapphire-bearing ultramafic dike is found in the northern Little Belt Mountains of Central Montana. The Yogo dike, as it is known, is the world’s only well-documented occurrence of mined gem-quality corundum associated with an igneous intrusion.” Economic Geology, Vol. 91, 1996

“In 1895, the Yogo sapphire deposit was accidentally discovered by a gold prospector. Yogo Gulch in Central Montana is one of the most important gem deposits in the United States. Although very little material has been recovered there in recent years, it has produced several million carats of rough sapphire over the course of its history. These stones, known for their vibrant untreated blue color and high clarity, have always commanded a price premium, especially in sizes larger than 0.75 ct. While Yogo sapphires may not be as well-known as those from other deposits such as Sri Lanka and Myanmar, they are truly unique among gem corundum. They also possess a unique trace-element chemistry and an inclusion suite that makes them easily recognizable to the experienced gemologist.” Gem & Gemology, Summer 2018

Sapphire prices have risen approximately 25% following the reopening of trade shows following the pandemic. Part of this reason is that production has declined in the past few years, with no discoveries of major new sources since 2016.

In addition to being carried in numerous jewellery stores across the USA, you can purchase Yogo sapphires online directly on ETSY https://www.etsy.com/shop/YogoSapphiresDirect, where they command prices of up to $31,000.

For more information about YoGoldUSA, please visit their website at https://www.yogoldusa.com/.

Barry Morgan, InvestmentPitch CEO, stated: “We’re excited to be working with Yogo Sapphire, which we believe will be the only pure-play sapphire gemstone company. The timing is perfect as demand is soaring for sapphires as both consumers and investors acquire more hard assets, while mines are producing fewer stones.”

For more information, please contact Barry Morgan at 604-358-5212 or by email at BMorgan@InvestmentPitch.com.