Nordic Oil and Gas to Undertake New Private Placement Offering



Nordic Oil and Gas intends to undertake a new non-brokered private placement offering for up to 10,000,000 units at a price of $0.125 per Unit for gross proceeds of $1,250,000 to various subscribers.

Each Unit will consist of one Class A common share of the Company issued as a "Flow-Through share" within the meaning of the Income Tax Act (Canada) and one-half of one Class A common share purchase Warrant ("a Warrant"). Each whole Warrant would entitle the holder thereof to purchase one regular Class A common share of the Company at a price of $0.13 for a period of one year from the date of issuance.

The securities issued pursuant to the Offerings are subject to a four-month holding period from the date of closing. The Company anticipates multiple closings in the coming weeks.

Certain finders are expected to assist the Company by introducing potential subscriber(s) to the new Offering and, subject to compliance with applicable legislation, will be entitled to receive fees equal to 8% of the purchase price of the new Units sold pursuant to the new Offering, as well as warrants ("Finder's Warrants") equal to 8% of the number of new Units sold pursuant to the new Offering. Each new Finder's Warrant shall entitle the holder thereof to purchase one regular Class A common share of the Company at a price of $0.13 for a period of 12 months from the date of issuance.

All terms of the new Offerings are subject to the approval of the TSX Venture Exchange.

Nordic Oil and Gas is set to embark on several new exploration and development initiatives during the second half of 2009, including new exploration wells in Preeceville, SK, and Talbot Lake, AB, along with additional new development wells in Lloydminster, AB.
 


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