NG Energy International Corp V.GASX

PROSPECTUS OFFERING OF UP TO $45 M OF CONVERTIBLE DEBENTURE

[Betteryear2]

VANCOUVER, BC, March 31, 2022 /CNW/ - NG Energy International Corp. (the "Company" or "NGE") (TSXV: GASX) (OTC: GASXF) is pleased to announce that it has obtained a receipt from the British Columbia Securities Commission for its preliminary short form prospectus in connection with a proposed issuance and sale of up to 45,000 convertible debenture units (the "Debenture Units") at a price of $1,000 per Debenture Unit (the "Offering Price") on a best-efforts, fully marketed basis, for aggregate total gross proceeds of up to $45,000,000 (the "Offering"). The terms of the Offering were negotiated with Canaccord Genuity Corp. ("Canaccord") and Beacon Securities Limited ("Beacon" and collectively with Canaccord, the "Lead Agents"), as co-lead agents and joint bookrunners, and StifelFirstEnergy on their own behalf and on behalf of a syndicate of agents to be named at a later date (collectively with the Lead Agents, the "Agents"), and will be reflected in an agency agreement to be entered into between the Company and the Agents on or prior to the Closing Date (as defined below).