Brokered offering to be conducted by Haywood Securities as lead agent
By Susanna Moon
Chicago, Oct. 5 - Yangarra Resources Ltd. said it upsized its special warrant financing with Haywood Securities Inc. as lead agent to C$13 million.
The company will issue up to 10 million common share special warrants at C$0.65 each for gross proceeds of up to C$6.5 million and up to 8,666,667 flow-through special warrants issued at C$0.75 each for gross proceeds of up to C$6.5 million.
The special warrants are exercisable for one common share or one flow-through common share each, as applicable, at any time after closing.
Yangarra said on Sept. 23 that it would sell between C$7 million and C$10 million of the warrants on a commercially reasonable best-efforts basis through Haywood Securities and a syndicate that includes Canaccord Genuity Corp. and Raymond James.
Yangarra previously said it would use the proceeds for exploration, development and production of its Willesden Green area property.
The oil and gas company is based in Calgary, Alta.
| Issuer: | Yangarra Resources Ltd.
|
| Issue: | Special warrants
|
| Amount: | C$13 million
|
| Agents: | Haywood Securities (lead); Canaccord Genuity Corp. and Raymond James
|
| Pricing date: | Sept. 23
|
| Upsized: | Oct. 5
|
| Stock symbol: | TSX Venture: TGR
|
| Stock price: | C$0.69 at close Oct. 5
|
| Market capitalization: | C$30.1 million
|
|
|
| Common share warrants
|
| Amount: | C$6.5 million
|
| Shares: | 10 million
|
| Price: | C$0.65
|
|
|
| Flow-through warrants
|
| Amount: | C$6.5 million
|
| Shares: | 8,666,667
|
| Price: | C$0.75
|
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