On February 10, 2021, NG Energy International Corp. closed a bought deal private placement of 8,510,000 units at a price of $1.15 per unit for aggregate gross proceeds of approximately $9.79 million, which includes the exercise in full of the underwriters’ over-allotment option. Each unit consists of one common share of NG Energy and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $1.75 until February 10, 2024.
The offering was completed by a syndicate of underwriters led by Beacon Securities Limited and included Canaccord Genuity Corp. and Eventus Capital Corp.
Cassels acted for the underwriters with a deal team that included Jay King, Chris McLelland and Reza Sarsangi (Securities and Energy).