Wednesday, October 8, 2025

Latest

NG Energy Upsizes Financing To $30.0 Million Due To Demand

Strong demand evidently exists for the convertible debenture offering announced by NG Energy (TSXV: GASX) recently. The firm last night revealed that it will be upsizing the offering as a result of the demand.

The financing will now see the company sell up to $30.0 million senior secured convertible debenture units, with each debenture priced at $1,000. Debentures contain an interest rate of 10% per annum, and a maturity of three years from the date of issuance. Each unit comes with 1,000 warrants, which contain an exercise price of $1.08 per share and are valid for three years.

The debentures are convertible at a price of $0.90 per common share, and can be converted at any time prior to maturity.

READ: NG Energy Hits 783 Feet Of Net Gas Pay At Brujo-1x Well

Funds from the financing were previously indicated to be slated to be used for the completion of the Brujo-1x gas well, the drilling of the Hechicero-1x well, as well as working capital. Both of the wells are slated to be completed before the end of the year.

Insiders have also committed to put forth an estimated 10% of the financing.

NG Energy last traded at $0.92 on the TSX Venture.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive has been compensated to provide coverage on this company. The company has been compensated to cover this story on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Natural Gas Is The Transition Fuel Of The Future – The Daily Dive feat Ronald Pantin of NG Energy

Starting off the week on the Daily Dive is that of Ronald Pantin, whom is...

Monday, January 11, 2021, 01:30:00 PM

NG Energy Receives Final License Required For Maria Conchita Block To Enter Production

NG Energy International (TSXV: GASX) continues to inch closer to finally achieving natural gas production...

Thursday, March 3, 2022, 08:03:43 AM

NG Energy Receives Payment For First 15 Days Of Production In Advance

NG Energy (TSXV: GASX) is evidently on the cusp of production getting underway at its...

Wednesday, May 18, 2022, 08:20:31 AM

NG Energy Preps For Well Re-Entry, Reaches Agreement For Pipeline Tie-In

NG Energy International (TSXV: GASX) this morning had a positive update for investors on the...

Friday, October 29, 2021, 08:23:31 AM

NG Energy Closes Prospectus Offering For Proceeds Of $17.0 Million

NG Energy (TSXV: GASX) today announced the closing of its previously announced prospectus offering of...

Friday, May 20, 2022, 02:25:00 PM