By Devika Patel
Knoxville, Tenn., Dec. 23 - Nordic Oil and Gas Ltd. said it completed a C$293,000 tranche of a C$2 million non-brokered private placement of units. The deal priced Nov. 11, and the company raised C$257,500 on Nov. 26.
The company is selling 20 million units of one flow-through class A common share and a half-share warrant at C$0.10 per unit. It sold 2,575,000 units in the first tranche and 2.93 million units in this one.
Each whole warrant is exercisable at C$0.11 for one year.
Nordic is an oil and gas company based in Winnipeg, Man.
| Issuer: | Nordic Oil and Gas Ltd.
|
| Issue: | Units of one flow-through class A common share and a half-share warrant
|
| Amount: | C$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.11
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 11
|
| Settlement date: | Nov. 26 (for C$257,500), Dec. 23 (for C$293,000)
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.10 at close Nov. 10
|
| Market capitalization: | C$6.75 million
|
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