By Laura Lutz
Des Moines, June 6 - Lynden Ventures Ltd. plans to conduct a private placement of units for up to C$14.4 million..
The company intends to sell 18 million units of one share and one half-share warrant at C$0.80 per unit. Each whole warrant will be exercisable at C$1.25 for two years.
The placement will be non-brokered.
The company will use the proceeds to acquire a 25% working interest in the Southern Prospect Area and to fund operations on the Southern and Northern Prospect Areas of the Paradox Basin project in Utah.
Lynden is an oil and gas exploration company based in Vancouver, B.C.
Issuer: | Lynden Ventures Ltd.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$14.4 million
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Units: | 18 million
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Price: | C$0.80
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$1.25
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Agent: | Non-brokered
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Pricing date: | June 6
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Stock symbol: | TSX Venture: LVL
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Stock price: | C$1.09 at close June 6
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