Non-brokered deal funds oil and gas projects, general working capital
By Devika Patel
Knoxville, Tenn., April 17 - Lynden Energy Corp. said it arranged a C$6.3 million non-brokered private placement of units.
The company will sell 15 million units of one common share and a half-share warrant at C$0.42 per unit. Each whole warrant is exercisable at C$0.65 for three years. The strike price is a 47.73% premium to the April 16 closing share price of C$0.44.
Proceeds will be used for the company's oil and gas projects and general working capital purposes.
Based in Vancouver, B.C., Lynden Energy is a petroleum and natural gas exploration company.
Issuer: | Lynden Energy Corp.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$6.3 million
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Units: | 15 million
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Price: | C$0.42
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | C$0.65
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Agent: | Non-brokered
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Pricing date: | April 17
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Stock symbol: | TSX Venture: LVL
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Stock price: | C$0.44 at close April 16
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Market capitalization: | C$40.68 million
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