Deal funds drilling and land acquisition program in Central Alberta
By Devika Patel
Knoxville, Tenn., June 2 - Yangarra Resources Inc. said it will conduct a C$10 million private placement of stock via a syndicate of underwriters led by AltaCorp Capital Inc. and including Haywood Securities Inc., GMP Securities LP, Raymond James Ltd. and Acumen Capital Finance Partners Ltd.
The company will sell 12.5 million flow-through common shares at C$0.80 per share on a bought-deal basis. The price per share reflects a 26.98% premium to the June 1 closing share price of C$0.63.
Settlement is expected on June 23.
Proceeds will be used to accelerate the company's drilling and land acquisition program in Central Alberta.
The oil and gas company is based in Calgary, Alta.
Issuer: | Yangarra Resources Inc.
|
Issue: | Flow-through common shares
|
Amount: | C$10 million
|
Shares: | 12.5 million
|
Price: | C$0.80
|
Warrants: | No
|
Agents: | AltaCorp Capital Inc. (lead), Haywood Securities Inc., GMP Securities LP, Raymond James Ltd. and Acumen Capital Finance Partners Ltd.
|
Pricing date: | June 2
|
Settlement date: | June 23
|
Stock symbol: | TSX Venture: YGR
|
Stock price: | C$0.63 at close June 1
|
Market capitalization: | C$67.47 million
|
© 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.