New York, Nov. 9 - Lynden Ventures Ltd. said it has increased its private placement of units offering to C$6.2725 million from C$ 6 million.
The non-brokered offering now includes 8,363,333 million units at C$0.75 each, up from the original 8 million.
The units are comprised of one share and one warrant. The warrants are exercisable at C$1.00 each for one year.
Proceeds from the deal, announced Sept. 28, will be used to finance Lynden's acquisition of oil and gas leases.
Lynden is in the process of acquiring oil and gas leases in a 970,000-acre conventional and unconventional oil and gas prospect in the western United States. The acquisition is expected to cost C$1.7 million.
Based in Vancouver, B.C., Lynden is an oil and natural gas exploration company.
| Issuer: | Lynden Ventures Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$6.2725 million
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| Units: | 8,363,333
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| Price: | C$0.75
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.00
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| Pricing date: | Sept. 28
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| Stock price: | C$0.85 at close Sept. 28, C$0.95 at close Nov. 9
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