NG Energy Completes $30 Million Brokered Private Placement of Common Shares

NG Energy International Corp. (TSXV: GASX) completed a brokered private placement offering of 28,572,000 common shares for total aggregate gross proceeds of $30,000,600. The offering was conducted by Eight Capital and Clarus Securities Inc., as co-lead agents and joint bookrunners, on behalf of a syndicate that also included Eventus Capital Corp., Beacon Securities Limited and Haywood Securities Inc.

NG Energy is a growth-oriented natural gas exploration and production company focused on delivering long-term shareholder and stakeholder value through the discovery, delineation and development of large-scale natural gas fields in developing countries, supporting energy transition and economic growth. Proceeds from the offering will be used for the next phase of drilling and 3D seismic at NG Energy’s Sinu-9 Block, flowlines connecting wells to the first and second central processing facilities at the Sinu-9 Block, drilling of the Aruchara-4 well at NG Energy’s Maria Conchita Block, completion of reservoir studies at both the Sinu-9 and Maria Conchita Blocks and for working capital and general corporate purposes.

Wildeboer Dellelce LLP acted for NG Energy in connection with the offering with a team comprising Peter Volk, Sarah Wahba, Alex Karlsen, Sepehr Yousef Pour, Jeany Nham, Victoria Allen and Cassandra Richards (Corporate/Securities).