Business

Yangarra Announces $10 million Bought Deal Private Placement Financing

Jun. 2, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR...

articleYangarra Resources Ltd.June 2, 20114/company/yangarra-resources-ltd/news/yangarra-announces-dollar10-million-bought-deal-private-placement-financing
Yangarra Announces $10 million Bought Deal Private Placement Financing

About this update from Yangarra Resources Ltd.

[{"type":"text","content":"\n\n\n Jun. 2, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S./\n\nCALGARY, June 2 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Corporation") (TSX Venture: "YGR") is pleased to announce that it has entered into a private placement financing agreement, on a bought deal basis, with AltaCorp Capital Inc., as lead underwriter, Haywood Securities Inc., GMP Securities L.P. , Raymond James Ltd., and Acumen Capital Finance Partners Limited (collectively, the "Underwriters"). Under the terms of the agreement, Yangarra will issue by way of a private placement 12,500,000 common shares on a flow-through basis ("Flow-Through Shares") at $0.80 per share for gross proceeds of $10,000,000. Yangarra will use the proceeds from the sale of the Flow-Through Shares on eligible Canadian Exploration Expenses which will be renounced to subscribers effective on or before December 31, 2011.\nThe private placement is expected to close on or about June 23, 2011 and is subject to approval of the TSX Venture Exchange, receipt of all necessary regulatory approvals and other customary conditions\nProceeds of the offering will be used by Yangarra to accelerate its drilling and land acquisition program in Central Alberta. Yangarra has a current drilling inventory of 131 gross (78 net) horizontal locations in the Central Alberta area and this financing will allow us to capitaliz...

More updates from Yangarra Resources Ltd.