NG Energy To Conduct A $7.0 Million Bought Deal Financing
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.
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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
