Energy
NG ENERGY ANNOUNCES RECEIPT OF C$26.5 MILLION FROM WARRANT EXERCISES
NG Energy International Corp. ("NGE" or the "Company") (TSX: GASX) (OTCQX: GASXF) is pleased to announce that it has received total proceeds of C$26,509,500.00 from the exercise of 29,455,000 common share purchase warrants issued on July 31, 2023 (the "July 2026 Warrants"), which have an exercise price of $0.90 each, with approximately C$22 million received since the end of Q1 2026. The Company originally issued 35,000,000 July 2026 Warrants in connection with the Company's private placement of
About this update from Ng Energy International Corp
CALGARY, AB, Aug. 4, 2026 /CNW/ -- NG Energy International Corp. ("NGE" or the "Company") (TSX: GASX) (OTCQX: GASXF) is pleased to announce that it has received total proceeds of C$26,509,500.00 from the exercise of 29,455,000 common share purchase warrants issued on July 31, 2023 (the "July 2026 Warrants"), which have an exercise price of $0.90 each, with approximately C$22 million received since the end of Q1 2026. The Company originally issued 35,000,000 July 2026 Warrants in connection with the Company's private placement of senior secured convertible debenture units, which was completed on July 31, 2023. The July 2026 Warrants were governed by a warrant indenture dated as of July 31, 2023, among the Company and TSX Trust Company (the "Warrant Indenture"). All unexercised July 2026 Warrants have expired as of July 31, 2026, in accordance with their terms and the terms of the Warrant Indenture. The exercise of the July 2026 Warrants resulted in the issuance of 29,455,000 common shares in the capital of the Company (the "Common Shares"). As of the date hereof and following such issuances, the Company has 296,334,964 Common Shares issued and outstanding. The proceeds received from the exercise of the July 2026 Warrants have strengthened the Company's balance sheet and provide additional capital to support the Company's active 2026 operational program, which includes the six-well drilling campaign at the Sinú-9 Block operated by Etablissements Maurel & Prom S.A., and the ongoing development program at the Maria Conchita Block. Jorge Fonseca, Chief Executive Officer of NGE, commented: "The strong response received from the holders of the July 2026 Warrants is a clear vote of confidence in NGE's strategy and momentum. The proceeds received from the exercise of the July 2026 Warrants further strengthen an already robust balance sheet and ensure we are fully funded to execute our operational programs at both Sinú-9 and Maria Conchita, at a time when our activity in our fields has never been greater. On behalf of the entire NGE team, I want to thank our shareholders and long-standing supporters, whose continued commitment is helping drive this exciting period of growth." Early Warning Disclosure The Company further announces that Lutry Investments Limited ("Lutry") has acquired 9,500,000 Common Shares through the exercise of 9,500,000 July 2026 Warrants. F...
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