By Sheri Kasprzak
New York, Aug. 31 - Lynden Ventures Ltd. said it has completed a private placement for C$2.75 million.
The non-brokered deal included 5.5 million units at C$0.50 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$0.75 each for one year.
In other news, Lynden has entered into an agreement with Canadian Spirit Resources Inc. to explore and develop petroleum and natural gas rights in central Alberta. Lynden will earn a 50% participating interest in the joint venture for C$2.5 million in expenses. Canadian Spirit will be the operator of the joint venture.
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 half-share warrant
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| Amount: | C$2.75 million
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| Units: | 5.5 million
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| Price: | C$0.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.75
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| Settlement date: | Aug. 31
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| Stock price: | C$0.75 at close Aug. 31
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