Deal priced alongside C$9.03 public stock sale; proceeds reduce debt
By Devika Patel
Knoxville, Tenn., Nov. 17 - Yoho Resources Inc. said it plans a C$1 million private placement of stock with insiders. It also will raise C$9.03 million in a public offering of stock.
In the placement, the company will sell 303,030 flow-through common shares at C$3.30 apiece. The price per share is a 13.79% premium to the Nov. 16 closing share price of C$2.90.
Settlement is expected Dec. 8.
Proceeds will be used to reduce debt, accelerate Yoho's exploration and development program and for exploration activities.
Yoho is a Calgary, Alta.-based junior oil and natural gas company with operations focusing on the northwest Peace River Arch of Alberta and northeast British Columbia.
| Issuer: | Yoho Resources Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1 million
|
| Shares: | 303,030
|
| Price: | C$3.30
|
| Warrants: | No
|
| Pricing date: | Nov. 17
|
| Settlement date: | Dec. 8
|
| Stock symbol: | TSX Venture: YO
|
| Stock price: | C$3.00 at close Nov. 17
|
| Market capitalization: | C$100.76 million
|
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