By Sheri Kasprzak
Atlanta, Oct. 25 - Yangarra Resources Inc. said Monday it upsized its previously announced C$3.9 million private placement to C$5 million.
The amended deal includes 6,410,256 flow-through common shares at C$0.78 per share.
Raymond James Ltd., the placement agent in the deal, increased the flow-through shares by 600,000.
The deal is expected to close on Nov. 8.
Yangarra also plans to grant up to 641,256 stock options, up from its previously announced 500,000, to directors, officers and consultants at C$0.78 per share.
The oil and gas company based in Calgary, Alberta, plans to use the proceeds from the deal to accelerate its exploration and development drilling program.
| Issuer: | Yangarra Resources Inc.
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| Issue: | Stock
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| Amount: | C$5 million
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| Shares: | 6,410,256 flow-through shares
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| Price: | C$0.78
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| Warrants: | No
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| Underwriter: | Raymond James Ltd.
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| Announcement date: | Oct. 21
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| Upsizing date: | Oct. 25
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| Settlement date: | Nov. 8
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| Stock price: | C$0.73 at close Oct. 21
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