New Issue: Synergy procures $4.17 million via placement of promissory note units

By Devika Patel

Knoxville, Tenn., Dec. 31 - Synergy Resources Corp. said it raised $4.17 million from a private placement of units.

The company sold 41.65 units. Each unit consists of a $100,000 8% promissory note and 37,000 warrants. The note is due Dec. 31, 2012 and is convertible into common shares at $1.60 per share.

Each warrant is exercisable at $6.00.

The oil and gas exploration and production company is based in Platteville, Colo.

Issuer:	Synergy Resources Corp.
Issue:	Units of a $100,000 8% promissory note and 37,000 warrants
Amount:	$4,165,000
Units:	41.65
Warrants:	37,000 warrants per unit
Warrant strike price:	$6.00
Settlement date:	Dec. 31
Stock symbol:	OTCBB: SYRG
Stock price:	$1.85 at close Dec. 30
Market capitalization:	$22.2 million
Notes
Maturity:	Dec. 31, 2012
Coupon:	8%
Price:	Par of $100,000
Yield:	8%
Conversion price:	$1.60

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