NG Energy (TSXV: GASX) has announced a $7.0 million bought deal financing. The company will look to raise funds at a price of $1.15 per unit, in a financing lead by that of Beacon Securities, with the syndicate of underwriters including Canaccord Genuity and Eventus Capital Corp.
The financing will see a total of 6.1 million units of the company sold at $1.15 per unit, with each unit consisting of one common share and one half of a common share purchase warrant. Each warrant is valid for a period of three years from the date of issuance, with an exercise price of $1.75 per share.
Proceeds from the offering are to be used for working capital and general corporate purposes. A 15% over-allotment option has also been granted to the underwriters, which is valid for a period of 48 hours following the close of the transaction.
NG Energy last traded at $1.34 on the TSX Venture.
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Information for this briefing was found via Sedar and NG Energy. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
