Lynden Energy Corp.
TSX VENTURE : LVL

Lynden Energy Corp.

November 17, 2010 18:27 ET

Lynden Increases Private Placement to $10,100,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2010) -

NOT FOR DISSEMINATION INTO THE UNITED STATES OF AMERICA OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Lynden Energy Corp. (TSX VENTURE:LVL) reports that further to the news release dated October 26, 2010 the non-brokered private placement has been increased from $10,000,000 to $10,100,000. These funds will be raised by the company issuing units at a price of $0.50 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share at a price of $0.70 for a period of 3 years.

The funds raised from this private placement will be used for the company's oil and gas projects, and for general working capital purposes. Fees will be payable in connection with a portion of the private placement. The increase in the private placement is subject to the approval of the TSX Venture Exchange.

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, and our Paradox Basin Project, Utah.

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

  • Lynden Energy Corp.
    Colin Watt
    President and CEO
    (604) 629-2991
    (604) 602-9311 (FAX)