By Laura Lutz
Washington, Dec. 19 - Yoho Resources Inc. arranged a private placement for up to C$14.8 million.
The company plans to sell up to 2 million non flow-through shares at C$4.90 each and up to 800,000 flow-through shares at C$6.25 each.
The placement will be conducted through a syndicate led by FirstEnergy Capital Corp. and including Peters & Co. Ltd., Sprott Securities Inc. and Westwind Partners Inc.
Settlement is expected on Dec. 29.
Proceeds will be used to partially fund an acquisition of petroleum and natural gas properties in British Columbia and for working capital.
Yoho is a Calgary, Alta.-based oil and natural gas company.
Issuer: | Yoho Resources Inc.
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Issue: | Non flow-through and flow-through shares
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Amount: | C$14.8 million
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Agents: | FirstEnergy Capital Corp. (lead), Peters & Co. Ltd., Sprott Securities Inc., Westwind Partners Inc.
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Pricing date: | Dec. 19
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Settlement date: | Dec. 29
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Stock symbol: | TSX Venture: YO
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Stock price: | C$5.00 at close Dec. 18
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Non flow-through shares
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Shares: | 2 million
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Price: | C$4.90
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Warrants: | No
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Flow-through shares
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Shares: | 800,000
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Price: | C$6.25
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Warrants: | No
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