By Sheri Kasprzak
Atlanta, Oct. 22 - Yangarra Resources Inc. said Friday it plans to raise C$3.9 million in a private placement.
The deal consists of 5 million flow-through shares at C$0.78. An additional 600,000 flow-through shares may be issued at the option of the underwriter Raymond James Ltd.
Management and others associated with the firm have committed to subscribe to no less than C$1 million of the total amount raised in the offering.
The company, based in Calgary, Alberta, is an oil and gas company. Yangarra plans to use the proceeds from the deal to accelerate its exploration and development drilling program.
| Issuer: | Yangarra Resources
|
| Issue: | Stock
|
| Amount: | C$3.9 million
|
| Shares: | 5 million flow-through shares
|
| Price: | C$0.78
|
| Warrants: | No
|
| Underwriter: | Raymond James Ltd.
|
| Settlement date: | Nov. 8
|
| Announcement date: | Oct. 21
|
| Stock price: | C$0.73 at close Oct. 21
|
|
|
© 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.
