Deal sells 20 million units with five-year warrants at C$0.05 per unit
By Devika Patel
Knoxville, Tenn., March 21 - Nordic Oil and Gas Ltd. said it plans a C$1 million non-brokered private placement of units.
The company will sell 20 million units of one flow-through class A common share and one warrant at C$0.05 per unit.
Each whole warrant is exercisable at C$0.05 for five years. The strike price reflects a 400% premium to the March 20 closing share price of C$0.01.
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 one warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.05
|
| Agent: | Non-brokered
|
| Pricing date: | March 21
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.01 at close March 20
|
| Market capitalization: | C$1.92 million
|
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