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Published on 12/20/2007 in the Prospect News PIPE Daily.

New Issue: Nordic Oil and Gas wraps C$1.64 million tranche of units

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

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