Date of Maturity and Interest Payment Extended on Nordic Oil and Gas Ltd. Series “A” Debentureadmin
WINNIPEG, Manitoba – (November 6, 2013) – Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the “Company” or “Nordic”), (TSXV: NOG) is pleased to announce that the maturity date and the date of interest payment for the Company’s 3 year, Series “A”, 10% secured convertible redeemable debentures, originally scheduled to mature on November 6, 2012 and subsequently extended to March 6, 2013, and extended again to November 6, 2013, has been further extended to November 6, 2014.
Debentureholders representing the requisite percentage of the principal amount of the debentures required to facilitate the extensions provided written consent to the Trustee of the Debenture, Computershare Trust Company of Canada.
“The Company wishes to thank its stakeholders for their continuing support during these difficult economic times,” Mr. Benson started. “This extension will allow us to continue to execute our business plan, with particular emphasis on our new Noel, BC project.”
The Company has substantial revenue generating initiatives to be completed over the next few months. As such, Nordic anticipates announcing a new Debenture Offering to finance its upcoming drilling program.
“Upon the completion of its financing, the Company shall commence the execution of a drilling program at Noel and the re-completion of our 11-13 well at Joffre,” Mr. Benson added.
The extension of the November 6, 2013 debenture is subject to final approval by the TSX Venture Exchange.
About Nordic Oil and Gas Ltd.
Nordic Oil and Gas Ltd. is a junior oil and gas company engaged in the exploration and development of oil, natural gas and Coal Bed Methane in Alberta and Saskatchewan. The Corporation is listed on the TSX Venture Exchange and trades under the symbol NOG. Nordic was one of the “2008 TSX Venture 50″ companies, a ranking of the top 10 public venture capital companies in five industry sectors listed on the TSX Venture Exchange.
This press release contains forward-looking statements with respect to Nordic Oil and Gas Ltd. properties, and matters concerning the business, operations, strategy, and financial performance of Nordic. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and Nordic does not undertake any obligation to update such statements except as required by law.
For additional information, contact:
Don Bain, Corporate Secretary.
Nordic Oil and Gas Ltd.
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Posted: November 6th, 2013 under ACCESSWIRE.