Exploration & Production
Yangarra Resources Funds Further Exploration
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Yangarra Resources Ltd. has announced it has entered into a equity financing agreement, on a bought deal basis, with AltaCorp Capital Inc., as lead underwriter, Dundee Capital Markets, Paradigm Capital Inc., Acumen Capital Finance Partners Limited and MGI Securities Inc.
Under the terms of the agreement Yangarra will issue 13,900,000 common shares at a price of $0.54 per Common Share for gross proceeds of $7,506,000. The Underwriters will also have the option, exercisable in whole or in part, to acquire up to an additional 2,085,000 Common Shares at a price of $0.54 per Common Share at any time from closing of the Offering and ending 30 days following the Closing Date for additional gross proceeds of up to $1,125,900.
In addition, Yangarra will issue an aggregate of: 7,755,000 common…
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