Business
NG Energy Announces Upsize to Private Placement Financing to $8M
NG Energy Announces Upsize to Private Placement Financing to $8M Canada NewsWir...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG Energy Announces Upsize to Private Placement Financing to $8M\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 VANCOUVER, BC\n \n ,\n \n Oct. 8, 2021\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) announces that it has increased the size of the previously announced financing to\n \n C$8,000,000\n \n . The Company will issue 8,000,000 units (each, a \"\n \n Unit\n \n \"), at a price of\n \n C$1.00\n \n per Unit, for gross proceeds of\n \n C$8,000,000\n \n . Each Unit consists of one common share and one share purchase warrant (each, a \"\n \n Warrant\n \n \"), with each Warrant entitling the holder to purchase one additional share at a price of\n \n C$1.20\n \n for a period of twenty-four (24) months from the date of issuance. The Warrants are subject to potential accelerated expiry in the event the closing price of the common shares of the Company on the TSX Venture Exchange is equal to or exceeds\n \n $2.00\n \n for twenty consecutive trading days.\n \n \n Completion of the private placement remains subject to the approval of the TSX Venture Exchange.  All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period. The Company anticipates paying a 6% finders' fee, payable in cash or Units, to certain eligible parties who have introduced subscribers to the placement.\n \n \n \n About NG Energy International Corp.\n \n \n \n NG Energy International Corp. is a publicly traded E&P company on a mission to provide a clean and sustainable solution to\n \n Colombia's\n \n energy needs. The Company intends on executing this mission by producing and bringing gas to the premium priced Colombian gas market from its concessions, SN-9, a 311,353 acres block which is adjacent to Canacol's Nelson field, as well\n \n Maria Conchita\n \n , a 32,518-acre block located in the region of La Guajira. NGE's team has extensive technical expertise and a proven track record ...