By Sheri Kasprzak
Atlanta, Nov. 8 - Yangarra Resources Inc. said Monday that placement agent Raymond James Ltd. exercised a greenshoe, lifting the company's private placement to C$5 million.
Yangarra originally announced an offering Oct. 22 of 5 million flow-through shares at C$0.78 to raise C$3.9 million.
Raymond James exercised an over-allotment option for 599,998 additional flow-through shares for a total offering of 6,410,254 flow-through shares at C$0.78.
Yangarra also granted options to buy 640,000 shares at C$0.78 to directors, officers and consultants within the company.
The company, based in Calgary, Alta., 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 Inc.
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| Issue: | Stock
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| Amount: | C$5 million
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| Shares: | 6,410,254 flow-through shares
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| Price: | C$0.78
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| Warrants: | No
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| Placement agent: | Raymond James Ltd.
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| Announcement date: | Oct. 22
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| Settlement date: | Nov. 8
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| Stock price: | C$0.75 at close Oct. 22
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| Stock price: | C$0.67 at close Nov. 8
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