Three-year 10% secured redeemable debentures convert at C$0.10
By Devika Patel
Knoxville, Tenn., April 21 - Nordic Oil and Gas Ltd. said it completed the initial C$545,000 tranche of a C$1 million private placement of three-year series B 10% secured convertible redeemable debentures.
The debentures are convertible into common stock at C$0.10 per share, an 11.11% premium to the April 20 closing share price of C$0.09. They may be called at 105 plus interest.
Nordic is an oil and gas company based in Winnipeg, Man.
| Issuer: | Nordic Oil and Gas Ltd.
|
| Issue: | Series B secured convertible redeemable debentures
|
| Amount: | C$1 million
|
| Maturity: | Three years
|
| Coupon: | 10%
|
| Conversion price: | C$0.10
|
| Call: | 105 plus interest
|
| Warrants: | No
|
| Settlement date: | April 21 (for C$545,000)
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.09 at close April 20
|
| Market capitalization: | C$8.26 million
|
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