Yangarra Resources Ltd.

Yangarra Resources Ltd.

May 25, 2010 09:58 ET

Yangarra Closes Private Placement

CALGARY, ALBERTA--(Marketwire - May 25, 2010) - Yangarra Resources Ltd. ("Yangarra" or "the Company") (TSX VENTURE:YGR) is pleased to announce that on Friday, May 21, 2010 it closed its previously announced private-placement of 4,200,000 flow-through common shares of the Company at a price of $0.55 per flow through common share for aggregate gross proceeds of $2,310,000. Each flow-through share is issued on a "flow-through" basis under the Income Tax Act (Canada) and subject to a hold period expiring September 22, 2010. Finder's fees of $184,800 were paid in conjunction with the financing.

The proceeds from the sale of the flow-through common shares will be used the Company to fund qualifying expenditures in relation to the exploration, development, and production of the Company's Willesden Green Area property.

All reference to dollar values are in Canadian funds.

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.

Contact Information

  • Yangarra Resources Ltd.
    James Evaskevich
    (403) 262-9558