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NG ENERGY ANNOUNCES THE UPSIZE OF ITS PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE OFFERING TO UP TO $30 MILLION
NG ENERGY ANNOUNCES THE UPSIZE OF ITS PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE OFFERING...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG ENERGY ANNOUNCES THE UPSIZE OF ITS PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE OFFERING TO UP TO $30 MILLION\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 Oct. 25, 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 it has increased the size of its previously announced financing to up to\n \n $30,000,000\n \n . The non-brokered private placement offering will be for the issuance and sale of up to 30,000 convertible senior secured debenture units (the \"\n \n Debenture Units\n \n \") at an issuance price of\n \n $1,000\n \n per Debenture Unit, for aggregate total gross proceeds of up to\n \n $30,000,000\n \n (the \"\n \n Offering\n \n \"). Completion of the Offering is contingent upon approval of the TSX Venture Exchange, compliance with applicable Canadian securities laws, and completion of satisfactory due diligence by the lead group of strategic investors, anticipated to be completed within 30 days of this announcement.\n \n \n Each Debenture Unit will consist 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 three (3) years from the closing of the Offering (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 from the Closing Date.\n \n \n The principal amount of each Convertible Debenture will be convertible, for no additional consideration, at the option of the hold...