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NG ENERGY ANNOUNCES INCREASE OF TOTAL FINANCING TO $50 MILLION, INCLUDING CONCURRENT NON-BROKERED EQUITY PRIVATE PLACEMENT LED BY STRATEGIC INVESTORS
NG ENERGY ANNOUNCES INCREASE OF TOTAL FINANCING TO $50 MILLION, INCLUDING CONCURRENT NON-...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG ENERGY ANNOUNCES INCREASE OF TOTAL FINANCING TO $50 MILLION, INCLUDING CONCURRENT NON-BROKERED EQUITY PRIVATE PLACEMENT LED BY 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 Nov. 14, 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 non-brokered private placement offering for the issuance and sale of up to 27,397,261 units (each a \"\n \n Unit\n \n \") at an issuance price of\n \n $0.73\n \n per Unit, for aggregate total gross proceeds of up to\n \n $20 million\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 \") and compliance with applicable Canadian securities laws.\n \n \n Each Unit will consist of: (i) one (1) common share of the Company (a \"\n \n Common Share\n \n \"); and (ii) one (1) Common Share purchase warrant (each, a \"\n \n Warrant\n \n \"), with each Warrant entitling the holder thereof to purchase one Common Share at an exercise price equal to\n \n $1.08\n \n for a period of three (3) years from the closing date of the Offering.  The Warrants will have the same terms and conditions as the warrants offered in the Debenture Offering referenced below.\n \n \n The Offering will include the participation of the same lead group of strategic investors (the \"\n \n Strategic Investors\n \n \") referenced in the Company's\n \n October 21\n \n and\n \n October 25, 2022\n \n press releases announcing the offering of senior secured convertible debenture units for aggregate gross proceeds of up to\n \n $30 million\n \n (the \"\n \n Debenture Offering\n \n \"). Both the Debenture Offering and the Offering are expected to close on or about\n \n November 30...