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NG Energy Closes $8 Million Non-Brokered Private Placement
NG Energy Closes $8 Million Non-Brokered Private Placement Canada NewsWire ...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG Energy Closes $8 Million Non-Brokered Private Placement\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 /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 VANCOUVER, BC\n \n ,\n \n Oct. 22, 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) is pleased to announce, further to the Company's news releases dated\n \n October 7, 2021\n \n and\n \n October 8, 2021\n \n , that it has closed its non-brokered private placement of 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, expiring on\n \n October 22, 2023\n \n and 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 C$2.00\n \n for twenty consecutive trading days.\n \n \n All securities issued in connection with the private placement are subject to a four month and one day statutory hold period expiring on\n \n February 23, 2022\n \n , in accordance with applicable securities laws and the policies of the TSX Venture Exchange. In connection with completion of the placement, the Company has paid a\n \n C$6,000\n \n cash commission and issued an aggregate 141,600 in Units, on the same terms as those issued in the financing to eligible parties who introduced subscribers.\n \n \n Proceeds from the financing will allow the Company to expedite the drilling program at SN-9 by building roads and drilling pads concurrently rather than consecutively, allowing the drilling rig to move seamlessly from location to lo...