Non-brokered deal finances development drilling at Duvernay Formation
By Devika Patel
Knoxville, Tenn., Sept. 5 - Yoho Resources Inc. said it will conduct an C$8 million non-brokered private placement of stock.
The company will sell 3,864,735 flow-through common shares at C$2.07 per share. The price per share reflects a 3.5% premium to the Sept. 4 closing share price of C$2.00.
Settlement is expected on Sept. 14.
Proceeds will be used for the company's development drilling targeting the Duvernay Formation at Kaybob, Alta.
Yoho is a Calgary, Alta.-based junior oil and natural gas company with operations focusing on the northwest Peace River Arch of Alberta and northeast British Columbia.
Issuer: | Yoho Resources Inc.
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Issue: | Flow-through common shares
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Amount: | C$8 million
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Shares: | 3,864,735
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Price: | C$2.07
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Warrants: | No
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Agents: | Non-brokered
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Pricing date: | Sept. 5
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Settlement date: | Sept. 14
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Stock symbol: | TSX Venture: YO
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Stock price: | C$2.00 at close Sept. 4
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Market capitalization: | C$92.93 million
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