By Devika Patel
Knoxville, Tenn., March 15 - Nordic Oil and Gas Ltd. said it completed an initial tranche of a C$3 million non-brokered private placement of units, raising C$252,500. The offering priced on Feb. 10.
The company is selling 30 million units of one flow-through class A common share and a half-share warrant at C$0.10 apiece. It sold 2,525,000 units in this tranche.
Each whole warrant is exercisable at C$0.11 for 18 months.
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$3 million
|
| Units: | 30 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.11
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 10
|
| Settlement date: | March 15 (for C$252,500)
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.10 at close Feb. 9
|
| Market capitalization: | C$5.71 million
|
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