By Devika Patel
Knoxville, Tenn., Aug. 31 - Nordic Oil and Gas Ltd. said it settled a second tranche of a C$1.25 million non-brokered private placement of units. The deal priced July 13 and the company completed the first tranche on Aug. 18.
In the first tranche, Nordic sold 6,388,500 flow-through units for C$798,562.50. It sold 1,758,000 units for C$219,750 in the second tranche.
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.
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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$1.25 million
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Units: | 10 million
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Price: | C$0.125
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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$0.13
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Agent: | Non-brokered
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Pricing date: | July 13
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Settlement date: | Aug. 18 (for C$798,562.50), Aug. 31 (for C$219,750)
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Stock symbol: | TSX Venture: NOG
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Stock price: | C$0.13 at close July 10
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Market capitalization: | C$5.3 million
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