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NG ENERGY ANNOUNCES AN OFFERING OF UP TO $25 MILLION OF SENIOR SECURED CONVERTIBLE DEBENTURES LED BY A GROUP OF STRATEGIC INVESTORS
NG ENERGY ANNOUNCES AN OFFERING OF UP TO $25 MILLION OF SENIOR SECURED CONVERTIBLE DEBENT...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG ENERGY ANNOUNCES AN OFFERING OF UP TO $25 MILLION OF SENIOR SECURED CONVERTIBLE DEBENTURES LED BY A GROUP OF STRATEGIC INVESTORS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Oct. 21, 2022\n \n \n /CNW/ -\n \n NG Energy International Corp.\n \n (\"\n \n NGE\n \n \" or the \"\n \n Company\n \n \") (TSXV: GASX) (OTCQX: GASXF) is pleased to announce a financing commitment of up to\n \n $25,000,000\n \n from a lead group of strategic investors (the \"\n \n Strategic Investors\n \n \"), which will include insider participation from the Company. The non-brokered private placement offering will be for the issuance and sale of up to 25,000 convertible senior secured debenture units (the \"\n \n Debenture Units\n \n \") at an issuance price of\n \n $1,000\n \n per Debenture Unit (the \"\n \n Offering Price\n \n \"), for aggregate total gross proceeds of up to\n \n $25,000,000\n \n (the \"\n \n Offering\n \n \"). Completion of the Offering is contingent upon approval of the TSX Venture Exchange (\"\n \n TSXV\n \n \"), compliance with applicable Canadian securities laws, and completion of satisfactory due diligence by the Strategic Investors, anticipated to be completed within 30 days of this announcement.\n \n \n Each Debenture Unit will consist of: (i) one 10.0% convertible senior secured debenture with a principal amount of\n \n $1,000\n \n (each, a \"\n \n Convertible Debenture\n \n \") maturing three (3) years from the closing of the Offering (the \"\n \n Maturity Date\n \n \"); and (ii) 1,000 common share purchase warrants of the Company (each, a \"\n \n Warrant\n \n \"), with each Warrant entitling the holder thereof to purchase one common share of the Company (a \"\n \n Common Share\n \n \") at an exercise price equal to\n \n $1.08\n \n for a period of three...