Business
Yangarra Announces $13.5 million Bought Deal Financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ CA...
About this update from Yangarra Resources Ltd.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE U.S./\n\n\nCALGARY, Nov. 25, 2013 /CNW/ - Yangarra Resources Ltd. (\"Yangarra\" or the \"Corporation\") (TSX Venture: \"YGR\")  announces it\n has entered into a equity financing agreement, on a bought deal basis,\n with AltaCorp Capital Inc., as lead underwriter, Dundee Capital\n Markets, Paradigm Capital Inc., Acumen Capital Finance Partners Limited\n and MGI Securities Inc. (collectively, the \"Underwriters\").\n\n\nUnder the terms of the agreement Yangarra will issue 13,900,000 common\n shares (\"Common Shares\") at a price of $0.54 per Common Share for gross\n proceeds of $7,506,000.  The Underwriters will also have the option,\n exercisable in whole or in part, to acquire up to an additional\n 2,085,000 Common Shares at a price of $0.54 per Common Share at any\n time from closing of the Offering and ending 30 days following the\n Closing Date for additional gross proceeds of up to $1,125,900 (the\n \"Over Allotment Option\").\n\n\nIn addition, Yangarra will issue an aggregate of: 7,755,000 common\n shares to be issued on a flow-through basis in respect of Canadian\n exploration expenses (\"CEE\") (the \"CEE FT Shares\") at a price of $0.645\n per CEE FT Share for gross proceeds of $5,001,975; and 1,700,000 common\n shares to be issued on a flow-through basis in respect of Canadian\n development expenses (\"CDE\") (the \"CDE FT Shares\") at a price of $0.59\n per CDE FT Share for gross proceeds of $1,003,000.\n\n\nThe total aggregated gross proceeds are $13,510,975 and up to\n $14,636,875 pursuant to the full exercise of the Over-Allotment Option\n (the \"Offering\").  The Offering includes an allocation for a\n president's list of $500,000 of Common Shares and $500,000 of CEE FT\n Shares/CDE FT Shares.\n\n\nThe proceeds from the issuance of CEE FT Shares will be used by Yangarra\n to incur CEE expenses (the \"Qualifying CEE Expenditures\") on Yangarra's\n existing Canadian properties prior to December 31, 2014.  The proceeds\n from the issuance of CDE FT Shares will be used by Yangarra to incur\n CDE expenses (\"Qualifying CDE Expenditures\") on Yangarra's existing\n Canadian properties prior to December 31, 2013. Yangarra will renounce\n the Qualifying CEE Expenditures and Qualifying CDE Expenditures for the\n fisc...