By Laura Lutz
Des Moines, June 19 - Lynden Ventures Ltd. increased its previously announced private placement of units to C$14.8 million from C$14.4 million.
The company now plans to sell 18.5 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 deal priced on June 6 as an offering of 18 million units on the same terms.
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.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$14.8 million
|
| Units: | 18.5 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Pricing date: | June 6
|
| Upsized: | June 19
|
| Stock symbol: | TSX Venture: LVL
|
| Stock price: | C$1.09 at close June 6
|
| Stock price: | C$1.01 at close June 18
|
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