By Devika Patel
Knoxville, Tenn., June 16 - Lynden Energy Corp. announced it has completed a C$7.22 million private placement of units. The deal priced for C$7.15 million on May 27.
The company sold 5.55 million units, increased from 5.5 million units, at C$1.30 each. The units consist of one common share and one half-share warrant with each whole two-year warrant exercisable at C$1.75 in the first year and at C$2.00 thereafter.
Proceeds will be used for the company's Paradox Basin Project and for general working capital.
Based in Vancouver, B.C., Lynden Energy is a petroleum and natural gas exploration company.
| Issuer: | Lynden Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$7,215,000
|
| Units: | 5.55 million
|
| Price: | C$1.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.75 in the first year, C$2.00 thereafter
|
| Pricing date: | May 27
|
| Settlement date: | June 16
|
| Stock symbol: | TSX Venture: LVL
|
| Stock price: | C$1.50 at close May 26
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
