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NG ENERGY ANNOUNCES CLOSING OF FULLY MARKETED PROSPECTUS OFFERING FOR AGGREGATE GROSS PROCEEDS OF $17,047,000
NG ENERGY ANNOUNCES CLOSING OF FULLY MARKETED PROSPECTUS OFFERING FOR AGGREGATE GROSS PRO...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG ENERGY ANNOUNCES CLOSING OF FULLY MARKETED PROSPECTUS OFFERING FOR AGGREGATE GROSS PROCEEDS OF $17,047,000\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 May 20, 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 closed its previously announced best efforts, fully marketed prospectus offering (the \"\n \n Offering\n \n \") of 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 $17,047,000\n \n .\n \n \n The Offering was conducted by Canaccord Genuity Corp. and Beacon Securities Limited (together, the \"\n \n Lead Agents\n \n \"), as co-lead agents and joint bookrunners, and Stifel Nicolaus Canada Inc. (together with the Lead Agents, the \"\n \n Agents\n \n \").\n \n \n Each Debenture Unit consists 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 on\n \n May 20, 2027\n \n (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 $1.40\n \n for a period of five (5) years ending\n \n May 20, 2027\n \n .\n \n \n The principal amount of each Convertible Debenture is 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 prior to the earlier of: (i) the business day immediately preceding the Maturity Date; and (ii) the business day immediately preceding the date specified by the Company for redemption of the Convertible Debentures upon a Change of Control (as defined in the indenture ...