This press release is not for dissemination in the United States or for distribution to U.S. news wire services
Winnipeg, Manitoba (FSCwire) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (the “Corporation or Nordic”), today announced the corporation is offering 100,000,000 Class A Flow Through Units at a price of $0.005 per unit for total proceeds of $500,000.00. Each unit will entitle the purchaser to receive one flow through common share and one half of a share purchase warrant exercisable at $0.02 per share at any time within twelve months of closing of the offering. In the event that the company’s shares are trading for twenty consecutive trading days at or above $0.04 (the strike date) the warrants will have to be exercised or they will expire fifteen days following the strike date.
Nordic intends to use the funds to test the recently recompleted well at Noel BC, tie in our other well at Noel BC, pay for General and Administrative costs and fulfill obligations associated with a contemplated acquisition.
Nordic confirms herein that the Board of Directors has approved the consolidation of the Corporations shares of the basis of one new share for twenty existing shares. The consolidation will be voted on at the coming Annual General Meeting.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.