By Devika Patel
Knoxville, Tenn., Jan. 21 - Nordic Oil and Gas Ltd. said it has arranged a C$3.24 million non-brokered private placement of units.
The company will sell 20 million units of one flow-through class A common share and a half-share warrant at C$0.15 apiece. Each whole warrant is exercisable at C$0.18 for 18 months.
The company also will sell 2 million units of one class A common share and a half-share warrant at C$0.12 apiece. Each whole warrant is exercisable at C$0.14 for two years.
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, units of one class A common share and a half-share warrant
|
| Amount: | C$3.24 million
|
| Warrants: | One half-share warrant per unit
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 21
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.115 at close Jan. 20
|
| Market capitalization: | C$7.11 million
|
|
|
| Flow-through units
|
| Amount: | C$3 million
|
| Units: | 20 million
|
| Price: | C$0.15
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.18
|
|
|
| Units
|
| Amount: | C$240,000
|
| Units: | 2 million
|
| Price: | C$0.12
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.14
|
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