Page 14 - LatAmOil Week 22 2022
P. 14
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