By Laura Lutz
Des Moines, Aug. 1 - Yangarra Resources Ltd. plans to raise a maximum of C$2 million from two private placements of units.
The first placement will include up to 11.5 million non flow-through units at C$0.13 each for proceeds of up to C$1.495 million.
Each non flow-through unit will consist of one non flow-through share and one half-share non flow-through warrant.
The other placement will include up to 3,156,250 flow-through units at C$0.16 per unit for proceeds of up to C$505,000.
Each flow-through unit will consist of one flow-through share and one half-share non flow-through warrant.
Each whole warrant from either placement will be exercisable for one non flow-through share at C$0.20 until Dec. 31, 2007.
Insiders of the company have committed to subscribe for at least 25% of both offerings.
Proceeds will be used for the company's natural gas properties, for development in its Medicine Hat area and for working capital.
Yangarra is a resource exploration company based in Calgary, Alta.
Non flow-through deal
| Issuer: | Yangarra Resources Ltd.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant
|
| Amount: | C$1.495 million
|
| Units: | 11.5 million
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 31, 2007
|
| Warrant strike price: | C$0.20
|
| Pricing date: | Aug. 1
|
| Stock symbol: | TSX Venture: YAN
|
| Stock price: | C$0.125 at close July 31
|
|
|
| Flow-through deal
|
| Issuer: | Yangarra Resources Ltd.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$505,000
|
| Units: | 3,156,250
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 31, 2007
|
| Warrant strike price: | C$0.20
|
| Pricing date: | Aug. 1
|
| Stock symbol: | TSX Venture: YAN
|
| Stock price: | C$0.125 at close July 31
|
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