By Laura Lutz
Des Moines, Dec. 20 - Nordic Oil and Gas Ltd. raised C$1,642,899.70 from the first tranche of its C$3 million private placement of units.
In total, the company plans to sell 10 million units at C$0.30 apiece. The first tranche included 5,476,299 units.
Each unit consists of one class A flow-through common share and one half-share class A warrant. Each whole warrant will be exercisable for one non flow-through share at C$0.40 for two years.
Final settlement is expected before the end of the year.
The placement is non-brokered.
Nordic is an oil and gas company based in Winnipeg, Manitoba.
| Issuer: | Nordic Oil and Gas Ltd.
|
| Issue: | Units of one class A flow-through share and one half-share class A non flow-through warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 20 (for C$1,642,899.70)
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.41 at close Dec. 19
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
