Synergy Resources (SYRG) Announces 10M Common Offering

Synergy Resources Corporation (AMEX: SYRG) intends to commence an underwritten public offering of 10,000,000 shares of the Company's common stock. The Company plans to use the net proceeds from this offering, along with cash on hand, cash flow from operations, and its revolving credit facility to fund the previously announced 18-month capital budget and for corporate purposes, including working capital. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock.

Johnson Rice & Company is acting as sole book-running manager of the offering.

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