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Yangarra Announces $15 Million Bought Deal Financing of Flow-Through Common Shares
Yangarra Announces $15 Million Bought Deal Financing of Flow-Through Common Shares Cana...
About this update from Yangarra Resources Ltd.
[{"type":"text","content":"\n \n \n \n Yangarra Announces $15 Million Bought Deal Financing of Flow-Through Common Shares\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR\n \n \n DISSEMINATION IN THE U.S./\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 6, 2023\n \n \n /CNW/ -\n \n Yangarra Resources\n \n \n Ltd.\n \n (\"\n \n Yangarra\n \n \" or the \"\n \n Company\n \n \") (TSX: YGR) announces it has entered into an equity financing agreement, on a bought deal basis, with a syndicate of underwriters (collectively, the \"Underwriters\") led by ATB Capital Markets Inc. and CIBC Capital Markets.\n \n \n \n \n \n \n \n \n \n Under the terms of the agreement, Yangarra will issue an aggregate of 5,905,600 common shares to be issued on a flow-through basis in respect of Canadian development expenses (\"CDE\") (the \"CDE FT Shares\") at a price of\n \n $2.54\n \n per CDE FT Share.\n \n \n Yangarra has also granted to the Underwriters an option to purchase additional CDE FT Shares, equal to 15% of the number of CDE FT Shares sold pursuant to the offering at the offering price, for market stabilization purposes and to cover overallotments for a period expiring 30 days after the date of closing.\n \n \n The total aggregate gross proceeds are\n \n $15,000,224\n \n and up to\n \n $17,250,257\n \n pursuant to the full exercise of the Over-Allotment Option (the \"Offering\"). Insiders of Yangarra will participate for up to\n \n $1.5 million\n \n of the Offering.\n \n \n The proceeds from the issuance of CDE FT Shares will be used by Yangarra to incur CDE expenses on Yangarra's existing Canadian properties prior to\n \n December 31, 2023\n \n and Yangarra will renounce qualifying expenditures to purchasers of the CDE FT Shares on or before\n \n December 31, 2023\n \n .\n \n \n The CDE FT Shares will be offered by way of short form prospectus in each of the\n \n Alberta\n \n ,\n \n British Columbia\n \n ,\n \n Saskatchewan\n \n and\n \n Ontario\n \n , pursuant to National ...