By Devika Patel
Knoxville, Tenn., Aug. 18 - Nordic Oil and Gas Ltd. announced it completed the first tranche of a C$1.25 million non-brokered private placement of units. The deal priced July 13.
In this tranche, Nordic sold 6,388,500 flow-through units for C$798,563.
The company is selling 10 million units at C$0.125 apiece. Each unit will consist of one flow-through class A common share and a half-share warrant, with each whole warrant exercisable at C$0.13 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$1.25 million
|
| Units: | 10 million
|
| Price: | C$0.125
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.13
|
| Agent: | Non-brokered
|
| Pricing date: | July 13
|
| Settlement date: | Aug. 18 (for C$798,563)
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.13 at close July 10
|
| Market capitalization: | C$6.26 million
|
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