/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
CALGARY, Nov. 25, 2013 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Corporation") (TSXV: YGR) announces it has agreed
with the underwriters to re-allocate the previously announced
Due to increased demand for Canadian development expenses the allocation
of CDE flow through Shares has been increased by $1,000,000 and the
allocation of common shares has been reduced by the same amount.
Yangarra will now issue 12,048,148 common shares ("Common Shares") at a
price of $0.54 per Common Share for gross proceeds of $6,506,000 and
3,394,915 common shares will be issued on a flow-through basis in
respect of Canadian development expenses ("CDE") (the "CDE FT Shares")
at a price of $0.59 per CDE FT Share for gross proceeds of $2,003,000.
The allocation of 7,755,000 common shares to be issued on a flow-through
basis in respect of Canadian exploration expenses ("CEE") (the "CEE FT
Shares") at a price of $0.645 per CEE FT Share for gross proceeds of
$5,001,975 remains unchanged.
The Underwriters will also continue to have the option, exercisable in
whole or in part, to acquire up to an additional 1,807,222 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 $975,900 (the "Over Allotment
This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, the common shares in any jurisdiction,
including the United States, or to, or for the account or benefit of,
U.S. persons absent U.S. registration or an applicable exemption
therefrom, nor shall there be any sale of the common shares in any
state in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
state. The common shares being offered will not be, and have not been,
registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, a U.S. person, absent U.S.
registration or an applicable exemption therefrom.
Certain information regarding Yangarra set forth in this news release,
including management's assessment of future plans, operations and
operational results may constitute forward-looking statements under
applicable securities law and necessarily involve risks associated with
oil and gas exploration, production, marketing and transportation such
as loss of market, volatility of prices, currency fluctuations,
imprecision of reserves estimates, environmental risks, competition
from other producers and ability to access sufficient capital from
internal and external sources. As a consequence, actual results may
differ materially from those anticipated in the forward-looking
All reference to $ (funds) are in Canadian dollars.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the Policies of the TSX Venture Exchange)
accepts responsibility for the adequacy and accuracy of this release.
SOURCE: Yangarra Resources Ltd.
For further information:
James Evaskevich, President and CEO at (403) 262-9558