CALGARY, June 17 /CNW/ - Toscana L.P. ("Toscana") announces that it has disposed of an aggregate 2,800,000 common shares of Yangarra Resources Ltd. ("Yangarra") (TSX-V: YAN) for total consideration of $1,568,000.
This disposition of securities represents a decrease in Toscana's holdings from 11.94% to 6.72% of Yangarra's issued and outstanding common shares. Toscana currently owns and controls 3,608,664 common shares in the capital of Yangarra. Prior to the disposition, Toscana held 6,408,664 common shares (32,043,320 Common Shares prior to the consolidation of the common shares in the capital of Yangarra on a 5:1 basis on April 29, 2010) and 991,031 preferred shares in the capital of Yangarra, representing approximately 11.94% and 100%, respectively, of Yangarra's issued and outstanding common shares and preferred shares.
The securities disposed of by Toscana were disposed in the ordinary course of business, for business purposes only. Toscana has no present intention of acquiring additional securities, although it may in the future increase or decrease its ownership interest in Yangarra from time to time depending upon the business and prospects of Yangarra and future market conditions.
An early warning report will be filed on SEDAR and will be available for review at www.sedar.com under Yangarra's profile.
SOURCE TOSCANA L.P.
For further information: For further information: Brian Mellum or Joseph Durante, Managing Director(s), Toscana Capital Corporation at 403-410-6793