June 15, 2016 / 6:33 PM / a year ago

BRIEF-Toro Oil & Gas announces terms of $11.3 million bought deal financing

June 15 (Reuters) - Toro Oil & Gas Ltd

* To sell 49.1 million units of company at a price of $0.23 per unit

* Toro Oil & Gas Ltd says net proceeds from offering will be used to expand capital budget, for debt reduction

* Each whole warrant will be exercisable at $0.40 and will entitle holder thereof to acquire one common share for a period of three years

* Toro Oil & Gas Ltd. announces terms of $11.3 million bought deal financing Source text for Eikon:

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