Business
NG ENERGY ANNOUNCES BEST-EFFORTS, FULLY MARKETED PROSPECTUS OFFERING OF UP TO $45 MILLION OF CONVERTIBLE DEBENTURE UNITS
NG ENERGY ANNOUNCES BEST-EFFORTS, FULLY MARKETED PROSPECTUS OFFERING OF UP TO $45 MILLION...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG ENERGY ANNOUNCES BEST-EFFORTS, FULLY MARKETED PROSPECTUS OFFERING OF UP TO $45 MILLION OF CONVERTIBLE DEBENTURE UNITS\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 31, 2022\n \n \n /CNW/ - NG Energy International Corp. (the \"\n \n Company\n \n \" or \"\n \n NGE\n \n \") (TSXV: GASX) (OTC: GASXF) is pleased to announce that it has obtained a receipt from the British Columbia Securities Commission for its preliminary short form prospectus in connection with a proposed issuance and sale of up to 45,000 convertible debenture units (the \"\n \n Debenture Units\n \n \") at a price of\n \n $1,000\n \n per Debenture Unit (the \"\n \n Offering Price\n \n \") on a best-efforts, fully marketed basis, for aggregate total gross proceeds of up to\n \n $45,000,000\n \n (the \"\n \n Offering\n \n \"). The terms of the Offering were negotiated with Canaccord Genuity Corp. (\"\n \n Canaccord\n \n \") and Beacon Securities Limited (\"\n \n Beacon\n \n \" and collectively with Canaccord, the \"\n \n Lead Agents\n \n \"), as co-lead agents and joint bookrunners, and StifelFirstEnergy on their own behalf and on behalf of a syndicate of agents to be named at a later date (collectively with the Lead Agents, the \"\n \n Agents\n \n \"), and will be reflected in an agency agreement to be entered into between the Company and the Agents on or prior to the Closing Date (as defined below).\n \n \n Each Debenture Unit will consist of: (i) one 8% convertible unsecured debenture in the principal amount of\n \n $1,000\n \n (each a \"\n \n Convertible Debenture\n \n \") maturing five (5) years from the closing of the Offering (the \"\n \n Maturity Date\n \n \"); and (ii) 400 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 $2.50\n \n for a period of five (5) years from the Closing Date.\n \n \n The pri...