By Sheri Kasprzak
Atlanta, Dec. 1 - Nordic Oil and Gas Ltd. said Wednesday it plans to raise up to C$1 million in a private placement.
The company plans to sell 2,272,727 units at C$0.44 each. The units consist of one class A flow-through common share and one warrant.
The warrants allow for an additional share at C$0.75 for one year.
The deal is being offered to subscribers in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and the Northwest Territories.
Wellington West Capital Inc. is the placement agent in the offering, which is expected to close Dec. 10.
Nordic is a Winnipeg, Manitoba.-based oil and gas exploration company.
| Issuer: | Nordic Oil and Gas Ltd.
|
| Issue: | Units of one class A flow-through share and one warrant
|
| Amount: | C$1 million
|
| Shares: | 2,272,727
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| Price: | C$0.44
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.75
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| Placement agent: | Wellington West Capital Inc.
|
| Announcement date: | Dec. 1
|
| Settlement date: | Dec. 10
|
| Stock price: | C$0.36 at close Dec. 1
|
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