25th Oct 2013 07:50
LONDON (Alliance News) - Caza Oil & Gas Inc. Friday said it has agreed to an advance of GBP500,000 from its GBP6 million standby equity distribution agreement.
The Texan hydrocarbon exploration, development and production company with operations on the Texas Gulf Coast, said the investment fund was set up in November 2012 between the company and YA Global Master SPV Limited, a subsidiary of Yorkville Advisors Global.
The company said that in exchange for the advance, Caza has issued and allotted 5.3 million shares to Yorkville.
Caza Oil & Gas shares were down 2.6% to 9.25 pence Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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