Calgary (pcJ News Briefs) – Jaguar Resources Inc. (TSX-V: JRI) intends to complete a financing of common shares issued at CDN $1.20 per share for gross proceeds of US $38 million.
Proceeds 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 CDN $1.20.
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.
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.
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.
photo credit: Anita Starzycka via pixabay