Voyager Oil & Gas Inc fka VOG

[ICEQUITY]

Voyager Oil and Gas (OTC: VYOG) Sets $4.00 Price for PIPE

Date: February 1, 2011 10:46 AM
Publisher: Bolton Flautt
Source: Bolton Flautt, AP, Bloomberg, Reuters
Categories: Market Drivers, Market Movers, OTCBB
Tags: Equities.com, UHO, VYOG

Voyager Oil & Gas, Inc. (OTC: VYOG) today announced that it has priced a private placement with certain accredited investors, pursuant to which such investors have agreed to purchase 12,500,000 units at a price of $4.00 per unit for gross proceeds of approximately $50 million. Shares of Voyager were up slightly this morning at $4.55 per share on heavy volume.

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 average closing 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.

The transaction is expected to close on February 4, 2011, subject to customary closing conditions. 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.
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