VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2012) - Lynden Energy Corp. (TSX VENTURE:LVL) reports that it has raised gross proceeds of CDN $2,043,300 by closing the second and final tranche of its recently announced CDN $6,300,000 non-brokered private placement. The funds were raised through the issuance of 4,865,000 units at a price of CDN $0.42 per unit. Each unit is comprised of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable at a price of CDN $0.65 until May 18, 2015.
The shares, and any shares issued upon exercise of the investor warrants, issued in the second tranche are subject to a hold period expiring September 19, 2012.
The funds raised from this private placement will be used for the company's oil and gas projects, and for general working capital purposes.
Lynden is a Canadian-based oil and gas company with operations focused on our Wolfberry and Mitchell Ranch projects in the Permian Basin, West Texas.
ON BEHALF OF THE BOARD OF DIRECTORS
LYNDEN ENERGY CORP.
Colin Watt, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Information:
Colin Watt
President and CEO
(604) 629-2991
(604) 602-9311 (FAX)