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| Home : WesternZagros Announces a Combined Financing in Excess of Cdn$400 Million Supported by Its Largest Shareholder |
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Aug 15
2014 |
WesternZagros Announces a Combined Financing in Excess of Cdn$400 Million Supported by Its Largest Shareholder |
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CALGARY, ALBERTA--(Marketwired - Aug. 14, 2014) - WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or the "Company") announces it will launch a CDN$250 million equity rights offering that is supported by a comprehensive equity arrangement for up to CDN$200 million and a separate debt financing arrangement of U.S.$200 million from its largest shareholder, Crest Energy International LLC ("Crest"). The proceeds of this financing will fund the development of the Company's two major oil discoveries on the Kurdamir and Garmian Blocks in the Kurdistan Region of Iraq. |
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| Source:http://www.marketwired.com/mw/release.do?id=1938633&sourceType=3 |
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