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NGX Energy Announces Name Change to NG Energy International Corp. and Update on Pipeline Financing
NGX Energy Announces Name Change to NG Energy International Corp. and Update on Pipeline ...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NGX Energy Announces Name Change to NG Energy International Corp. and Update on Pipeline Financing\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 VANCOUVER, BC, Nov. 12, 2020\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 12, 2020\n \n /CNW/ - NGX Energy International Corp. (the \"\n \n Company\n \n \" or \"\n \n NGX\n \n \") (TSXV: GASX) (OTC: GASXF) announces that effective at the market open on\n \n November 16, 2020\n \n , the Company will change its name to \"NG Energy International Corp.\"\n \n \n The new CUSIP number for the renamed company's shares is 62931J102 and the new ISIN number is CA62931J1021. The new CUSIP number for its warrants is 62931J110 and the new ISIN number is CA62931J1104.\n \n \n Further to the Company's press release dated\n \n October 6, 2020\n \n , the Company has agreed with a third party, GTX International Corp. (\"\n \n GTX\n \n \"), that GTX will build and operate the compression facilities and pipeline to be built from the Company's\n \n Maria Conchita\n \n field in\n \n Colombia\n \n to existing pipelines (the \"\n \n Pipeline Facilities\n \n \") pursuant to a memorandum of understanding to be entered into between the Company and GTX (the \"\n \n MOU\n \n \").   Pursuant to the MOU, the Company, one of its subsidiaries and GTX or one of its subsidiaries will enter into a take or pay agreement whereby GTX will process and transport a minimum of 16 million cubic feet per day of gas to be delivered to the Colombian National Transportation System.  GTX has engaged Canaccord Genuity Corp. to act as agent for a\n \n US$10 million\n \n brokered debenture financing which is anticipated to close next week (the \"\n \n GTX Financing\n \n \").\n \n \n The net proceeds of the GTX Financing are anticipated to be used to fund the construction of the Pipeline Facilities.\n \n \n The Company also announces that further to its press release dated\n \n August 19, 2020\n \n , in relation with the SN-9 Block exploratory program, the\n \n USD$2.5M\n \n secured loan bearing interest at 15% pe...