SOURCE: Synergy Resources Corporation

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April 11, 2016 06:34 ET

Synergy Resources Corporation Announces Public Offering of Common Stock

DENVER, CO--(Marketwired - April 11, 2016) -  Synergy Resources Corporation ("Synergy" or the "Company") (NYSE MKT: SYRG) today announced that it intends to offer for sale 19,500,000 shares of its common stock in an underwritten public offering. The Company intends to grant the underwriters an option for 30 days to purchase up to an additional 2,925,000 shares of the Company's common stock. The underwriters intend to offer the shares of common stock to be sold in the offering from time to time for sale in one or more transactions on the NYSE MKT, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part.

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include continuing to develop its acreage position in the Wattenberg Field in Colorado, funding a portion of its capital expenditure program for the remainder of 2016, or other uses, including potential future acquisitions.

Credit Suisse Securities (USA) LLC is acting as lead book-running manager for the offering.

The offering is being made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to: Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), One Madison Avenue, New York, New York 10010.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Synergy Resources Corporation

Synergy Resources Corporation is a domestic oil and natural gas exploration and production company. Synergy's core area of operations is in the Denver-Julesburg Basin, which encompasses Colorado, Wyoming, Kansas, and Nebraska. The company's corporate offices are located in Denver, Colorado.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

Statements in this news release related to the Company's public offering of common stock, and all other statements other than statements of historical fact are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. Synergy urges you to carefully review and consider the cautionary statements made in this press release, the registration statement, the "Risk Factors" section of the preliminary prospectus supplement for the offering and of the Company's Annual Report on Form 10-K for the year ended August 31, 2015, filed with the Securities and Exchange Commission ("SEC") on October 16, 2015, and other filings with the SEC for further information on risks and uncertainties that could affect the Company's business, financial condition and results of operations. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date made. Synergy undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward looking statements are qualified in their entirety by this cautionary statement.

Contact Information

  • Investor Relations Contact:
    Jon Kruljac
    Synergy Resources Corporation
    Tel 720-616-4308
    Email: jkruljac@syrginfo.com