By Devika Patel
Knoxville, Tenn., April 28 - Nordic Oil and Gas Ltd. said it plans a C$1 million private placement of 12% two-year secured convertible debentures.
The debentures will be sold in C$1,000 units of one debenture and 600 class A common shares. The debentures are convertible into common stock at C$0.15 per share.
Proceeds will be used for general corporate and working capital purposes.
Nordic is an oil and gas company based in Winnipeg, Man.
| Issuer: | Nordic Oil and Gas Ltd.
|
| Issue: | Units of C$1,000 in secured convertible debentures and 600 class A common shares
|
| Amount: | C$1 million
|
| Units: | 1,000
|
| Warrants: | No
|
| Pricing date: | April 28
|
| Stock symbol: | TSX Venture: NOG
|
| Stock price: | C$0.07 at close April 28
|
| Market capitalization: | C$3.66 million
|
|
|
| Debentures
|
| Price: | Par of C$1,000
|
| Maturity: | Two years
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.15
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
