Page 14 - LatAmOil Week 22 2022
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LatAmOil                                     NEWS IN BRIEF                                          LatAmOil










       INVESTMENT
       NG Energy announces

       listing of convertible

       debentures and warrants
       on TSX Venture Exchange


       NG Energy International Corp. is pleased to
       announce that, further to the Company’s news
       releases dated May 20, 2022 and May 24, 2022,
       the 8% unsecured convertible debentures and
       the common share purchase warrants of the
       Company, issued pursuant to the previously
       announced best efforts, fully marketed offering,
       have been approved for listing on the TSX Ven-
       ture Exchange Inc. under the symbols GASX.DB
       and GASX.WT.A, respectively, and will begin
       trading on Thursday, June 2, 2022.  to buy nor shall there be any sale of the securities   On May 31, 2022, after markets closed, Fron-
         The principal amount of each Convertible  in any State in which such offer, solicitation or  tera was added to the MSCI Canada Small Cap
       Debenture will be convertible, for no addi-  sale would be unlawful.     Index. The MSCI Canada Small Cap Index is
       tional consideration, at the option of the holder   NG Energy International Corp. is a publicly  designed to measure the performance of the
       in whole or in part at any time and from time  traded E&P company on a mission to provide  small cap segment of the Canada market. With
       to time into common shares of the Company  a clean and sustainable solution to Colombia’s  215 constituents, the MSCI Canada Small Cap
       prior to the earlier of: (i) the close of business  energy needs. The Company intends on exe-  Index covers approximately 14% of the free
       on May 19, 2027 or the day prior to the redemp-  cuting this mission by producing and bringing  float-adjusted market capitalisation in Canada.
       tion date of the Convertible Debentures, and  oil and gas to the premium priced Colombian  The average market cap of MSCI Canada Small
       (ii) the business day immediately preceding the  market from its concessions, SN-9, a 311,353-  Cap Index listed companies is CAD1.8bn and
       date specified by the Company for redemption  acre (1,260-square km) block which is adjacent  approximately 21% of the index is composed of
       of the Convertible Debentures upon a Change  to Canacol’s Nelson field, as well as Maria Con-  companies from the energy space.
       of Control (as defined in the Debenture Inden-  chita, a 32,518-acre (131.6-square km) block   About Frontera: Frontera Energy is a Cana-
       ture available on the Company’s SEDAR page at  located in the region of La Guajira. NGE’s team  dian public company involved in the explora-
       www.sedar.com) at a conversion price equal to  has extensive technical expertise and a proven  tion, development, production, transportation,
       $1.20, subject to adjustment in certain events.  track record of building companies and creating  storage and sale of oil and natural gas in South
       For greater clarity, any accrued and unpaid inter-  value in South America.  America, including related investments in
       est on the Convertible Debentures will be settled   Wildeboer Dellelce LLP is the legal advisor to  both upstream and midstream facilities. The
       through cash payment only.          NG Energy International Corp.        Company has a diversified portfolio of assets
         Each Warrant will entitle the holder thereof   NG Energy International, May 31 2022  with interests in 34 exploration and production
       to purchase one common share at an exercise                              blocks in Colombia, Ecuador and Guyana and
       price equal to $1.40 until May 20, 2027 (subject   Frontera added to S&P/TSX   pipeline and port facilities in Colombia. Fron-
       to an acceleration provision and adjustments in                          tera is committed to conducting business safely
       certain customary events). The Company shall   SmallCap Index            and in a socially, environmentally and ethically
       be entitled, at its sole option at any time after the                    responsible manner.
       second anniversary of the May 20, 2022, to accel-  Frontera Energy Corp. announced today that it   Frontera Energy, June 1 2022
       erate the expiry date of all but not less than all  has been added to the S&P/TSX SmallCap Index
       of the then outstanding Warrants on not more  and the MSCI Global Small Cap Indexes under   Petrobras comments on
       than 60 days’ and not less than 30 days’ notice,  the MSCI Canada Small Cap Index. Inclusion
       if the volume weighted average trading price of  in these indexes can potentially broaden partic-  letter from Ministry of
       the common shares on the TSXV is greater than  ipation in a company’s investor base by enabling
       $2.00 for the 10 consecutive trading days preced-  investment from index funds and similar invest-  Mines and Energy
       ing the notice.                     ment vehicles.
         The securities being offered have not been,   The S&P/TSX SmallCap Index is an invest-  Petrobras announces that today received a letter
       nor will they be, registered under the US Secu-  able index for the Canadian small-cap market  from the Ministry of Mines and Energy noti-
       rities Act of 1933, as amended, and may not be  that includes common stock and income trusts.  fying that it has forwarded to the Ministry of
       offered or sold in the US or to, or for the account  The index includes 230 constituents with a mean  Economy (ME) request for qualification of the
       or benefit of, US persons absent registration or  market cap of CAD634mn. The index is float-ad-  Company under the Investment Partnership
       an applicable exemption from the registration  justed, market cap-weighted and was developed  Program, linked to the ME, in order to start
       requirements. This press release shall not con-  with industry input as a benchmark for small-  specific evaluation studies for the Company’s
       stitute an offer to sell or the solicitation of an offer  cap exposure to the Canadian equity market.  privatisation.



       P14                                      www. NEWSBASE .com                           Week 22   02•June•2022
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