UPDATE 1-Angle Energy to buy Stonefire Energy for $47 mln

* Total deal value C$75 mln including debt

* Stonefire class A shrs to be bought at C$2/shr

* Class B shares to be bought at C$10/shr

* To raise C$40 mln in bought deal financing

Nov 20 (Reuters) - Canadian oil and gas explorer Angle Energy Inc (NGL.TO) said it agreed to buy Stonefire Energy Corp SFEa.V SFEb.V for about C$50 million ($47 million) in cash, to expand its operations.

The total deal value is about C$75 million, including the assumption of about C$25.3 million in net debt and transaction costs, Angle said in a statement.

Stonefire's class A shareholders will get C$2 per share, a premium of 11 percent to the stock's Thursday close on the Toronto Venture Exchange.

The class B shareholders will be paid $10 a share, a premium of 36 percent to the stock's close Thursday.

The move will position Angle as a resource-focused company with a multi-year drilling inventory across its concentrated west central Alberta asset base, Angle Chief Operating Officer Heather Christie-Burns said in a statement.

Separately, Angle Energy said it will raise C$40 million in a bought deal to fund the Stonefire acquisition and for general corporate purposes.

Angle said it agreed with a syndicate of underwriters led by FirstEnergy Capital Corp to sell 6.9 million shares at C$5.85 per share, representing a discount of 3 percent to the stock's Thursday close of C$6.05 on the Toronto Stock Exchange.

Angle Energy shares were trading down 3 percent at C$5.86 Friday morning on the Toronto Stock Exchange.

($1=1.065 Canadian Dollar) (Reporting by Isheeta Sanghi in Bangalore; Editing by Unnikrishnan Nair) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))