Voyager O&G Closes Private Placement

Voyager O&G has closed on its previously announced private placement of 12,500,000 units at a price of $4.00 per unit for gross proceeds of $50 million. Each unit will consist of one common share and one-half warrant to purchase one common share. The warrants, which represent the right to acquire up to an aggregate of 6,250,000 common shares, will be exercisable within the 5-year anniversary of the closing date of the private placement. The warrant exercise price of $7.10 per share is 150% of the volume weighted average price of the Company's common shares on the OTCBB for the five days ended January 31, 2011. Canaccord Genuity Inc. acted as the lead placement agent for the offering. Rodman & Renshaw, LLC, Dougherty & Company, LLC, C. K. Cooper & Company, Inc., Wunderlich Securities, Inc., Global Hunter Securities, LLC, and Feltl and Company acted as co-placement agents for the offering.

Voyager intends to use the net proceeds from the offering to continue pursuing acreage acquisition opportunities, fund their accelerated drilling program, and for working capital purposes.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours