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NG ENERGY ANNOUNCES CLOSING OF $35,000,000 PRIVATE PLACEMENT OF SENIOR SECURED COVERTIBLE DEBENTURE UNITS AND CFO APPOINTMENT
NG ENERGY ANNOUNCES CLOSING OF $35,000,000 PRIVATE PLACEMENT OF SENIOR SECURED COVERTIBLE DEBENTU...
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 COVERTIBLE DEBENTURE UNITS AND CFO APPOINTMENT\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 Dec. 1, 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 that further to the Company's press release dated\n \n October 21, 2022\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 (the \"\n \n Offering Price\n \n \") 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 November 30, 2025\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 (a \"\n \n Common Share\n \n \") at an exercise price equal to\n \n $1.08\n \n for a period of three (3) years ending\n \n November 30, 2025\n \n .\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 $0.90\n \n , as described in the indenture that will govern the Convertible Debentures.\n \n \n Net proceeds of the Offering will be used to complete the Brujo-1x well, followed by the Hechicero-1x...