By Devika Patel
Knoxville, Tenn., Dec. 31 - Nordic Oil and Gas Ltd. said it settled a C$360,000 tranche of a C$2 million non-brokered private placement of units.
The deal priced on Nov. 11 and the company raised C$257,500 on Nov. 26. It took in C$293,000 on Dec. 23.
The company is selling 20 million units of one flow-through class A common share and a half--share warrant at C$0.10 apiece. It sold 2,575,000 units in the first tranche and 2.93 million units in the second tranche, with 3.6 million units being sold in the latest tranche.
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.
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Issue: | Units of one flow-through class A common share and a half-share warrant
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Amount: | C$2 million
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Units: | 20 million
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Price: | C$0.10
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.11
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Agent: | Non-brokered
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Pricing date: | Nov. 11
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Settlement date: | Nov. 26 (for C$257,500), Dec. 23 (for C$293,000), Dec. 31 (for C$360,000)
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Stock symbol: | TSX Venture: NOG
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Stock price: | C$0.10 at close Nov. 10
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Market capitalization: | C$6.75 million
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