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NG ENERGY ANNOUNCES CLOSING OF $35,000,000 PRIVATE PLACEMENT OF SENIOR SECURED CONVERTIBLE DEBENTURE UNITS AND BOARD OF DIRECTORS CHANGES
NG ENERGY ANNOUNCES CLOSING OF $35,000,000 PRIVATE PLACEMENT OF SENIOR SECURED CONVERTIBLE DEBENT...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG ENERGY ANNOUNCES CLOSING OF $35,000,000 PRIVATE PLACEMENT OF SENIOR SECURED CONVERTIBLE DEBENTURE UNITS AND BOARD OF DIRECTORS CHANGES\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 Aug. 1, 2023\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 that further to the Company's press releases dated\n \n July 6, 2023\n \n and\n \n July 10, 2023\n \n , it has closed its non-brokered private placement offering (the \"\n \n Offering\n \n \") of senior secured convertible debenture units (the \"\n \n Debenture Units\n \n \") of the Company at a price of\n \n $1,000\n \n per Debenture Unit for total aggregate gross proceeds of\n \n $35,000,000\n \n .\n \n \n Each Debenture Unit consists 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 on\n \n July 31, 2026\n \n (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 (each a \"\n \n Common Share\n \n \") at an exercise price equal to\n \n $0.90\n \n for a period of three (3) years ending\n \n July 31\n \n , 2026.\n \n \n The principal amount of each Convertible Debenture will be convertible, for no additional consideration, at the option of the holder, in whole or in part, at any time and from time to time, into Common Shares at a conversion price equal to\n \n $0.70\n \n , as described in the indenture that will govern the Convertible Debentures.\n \n \n \n Board of Director's Update\n \n \n \n NGE is also pleased to announce that the changes to the board of directors (the \"\n \n Board\...