VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2012) -
NOT FOR DISSEMINATION INTO THE UNITED STATES OF AMERICA OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Lynden Energy Corp. (TSX VENTURE:LVL) reports that it has arranged a non-brokered private placement in the amount of CDN $6,300,000. These funds will be raised by the company by issuing 15,000,000 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 will be exercisable at a price of CDN $0.65 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 and/or commissions will be payable in connection with a portion of the private placement. 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.
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)