Jaguar Resources Inc. Announces Financing of $38 Million USD
Jaguar Resources Inc. (TSX VENTURE:JRI) ("Jaguar" or the "Company") intends to issue Common shares for a total of $38 million USD (the "Financing"). The Financing consists of common shares issued at $1.20 CDN (actual CDN value will be determined based upon exchange rate at time of closing) $38 Million USD in proceeds. The funds will be used to develop oil and gas prospects in the Western Canadian Sedimentary Basin of Alberta. A portion of the funding will also be used for general corporate purposes. The majority of Jaguar's previous debt will be converted to common shares at $1.20 CDN. This is all subject to final TSX approval.
Jaguar Resources Inc. will also be opening an office in Orange County California which is considered an investment and business friendly environment. A majority of members of the Jaguar team will be locating to the California office and the Company will also be hiring a number of employees there. A 2% advisory fee will be paid on the proceeds. Jaguar has also incorporated four wholly owned subsidiaries called "Jaguar Energy LLC." in Delaware, Texas and California and "Jaguar Energy Inc." in the Grand Cayman as the corporation is evaluating additional opportunities outside of Canada for acquisitions and future production growth.
This release is not an offer of securities of the Company for sale in the United States. The common shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the common shares may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States.
Jaguar's business strategy is to seek to provide shareholders with growth by exploring the existing assets in Saskatchewan, Bannock Creek. Jaguar is also pursuing industry farm in drilling opportunities both within Canada and Worldwide. As part of its corporate strategy of acquiring additional assets, the Company is in the process of evaluating several potential transactions which individually or together could be material. The Company cannot predict whether any current or future potential opportunities will result in one or more transactions involving the Company. The Company may issue equity or utilize debt facilities to finance all or a portion of any such potential acquisitions and or drilling programs on its Saskatchewan lands and future Alberta land holdings.
SOURCE: Jaguar Resources Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.