CALGARY, Dec. 20 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or "the Company") (TSX Venture: "YGR") is pleased to
announce that it has increased its existing credit facility agreement
with Alberta Treasury Branches ("ATB") to $14,500,000. The facility
will be increased to $12 million immediately and planned monthly
increases based on production levels will move the facility to $14.5
million by March 2011.
The additional credit facility space further strengthens our balance
sheet and will provide increased flexibility as the Company advances
the drilling program in the Willesden Green / Ferrier area of Alberta
James Glessing, Chief Financial Officer, commented "Yangarra will be
advancing a significant capital program in 2011 and continues to add
new drilling locations. The increase in the credit facility adds to
the already strong financial position that will form the base as the
Company continues to grow."
The credit facility is subject to a May 31, 2011 review unless the
Company requests an earlier review date and is currently drawn down for
approximately $2 million.
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: For further information:
James Glessing, Chief Financial Officer, at (403) 262-9558