Nordic Completes Second Closing of Convertible Debenture Offering
Nordic Oil and Gas Ltd. has completed the second closing of its previously announced private placement offering of the Corporation of 2-Year 8% Convertible Debentures, in the aggregate amount of $227,000.
The Debentures are convertible into Class A common shares of the Corporation at the option of the holder at any time prior to maturity at a conversion price of $0.25 per share. The Debentures are subject to a four-month hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
The first closing of the Debenture Offering was completed on November 30, 2006 when the Corporation received aggregate gross proceeds of $539,000.
Nordic Oil and Gas Ltd. is a junior oil and gas exploration company, which is listed on the TSX Venture Exchange and trades under the symbol NOG.
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