New Issue: North American Technologies sells $3 million of convertibles

By Laura Lutz

Des Moines, Aug. 6 - North American Technologies Group, Inc. closed a private placement of convertible debentures for $3 million.

Herakles Investments, Inc. subscribed for $1,761,330; Crestview Capital Master, LLC for $449,280; Midsummer Investment Ltd. for $428,040; Islandia, LP for $170,460; Enable Growth Partners, LP for $162,270; Enable Opportunity Partners, LP for $19,080; and Pierce Diversified Strategy Master Fund LLC for $9,540.

The debentures bear interest at 8% per year and mature on July 31, 2010. They are convertible into common stock at $0.20 per share.

The investors also received warrants for a total of 7.5 million shares, exercisable at $0.20 each.

Based in Marshall, Texas, North American Technologies produces TieTek composite railroad ties.

Issuer:	North American Technologies Group, Inc.
Issue:	Convertible debentures
Amount:	$3 million
Maturity:	July 31, 2010
Coupon:	8%
Price:	Par
Yield:	8%
Conversion price:	$0.20
Warrants:	For 7.5 million shares
Warrant strike price:	$0.20 per share
Investors:	Herakles Investments, Inc. (for $1,761,330); Crestview Capital Master, LLC (for $449,280); Midsummer Investment Ltd. (for $428,040); Islandia, LP for ($170,460); Enable Growth Partners, LP (for $162,270); Enable Opportunity Partners, LP (for $19,080); Pierce Diversified Strategy Master Fund LLC (for $9,540)
Settlement date:	July 31
Stock symbol:	OTCBB: NATK
Stock price:	$0.18 at close July 31

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