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Nostra Terra O&G Co (NTOG)

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Thursday 19 April, 2018

Nostra Terra O&G Co

Final exercise of warrants

RNS Number : 5024L
Nostra Terra Oil & Gas Company PLC
19 April 2018
 

19 April 2018

 

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

 

Final exercise of warrants

 

Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, is pleased to announce the final exercise of warrants issued as part of the placing completed in April 2017.

 

On 19 April 2017, Nostra Terra raised £500,000 by way of a placement of 25,000,000 Ordinary Shares at 2 pence per share (the "Placing"). As part of the Placing, the Company also issued 25,000,000 warrants to participants in the Placing, exercisable at a price of 3 pence for 12 months (the "Exercise Period"). The Exercise Period has now expired and, following the exercise of a further 10,087,866 warrants since the previous update on 3 April 2018, Nostra Terra is pleased to announce that a total of 24,600,000 warrants have been exercised.

 

The total number of Ordinary Shares in issue and allotted stands at 147,206,221. The Company has no Ordinary Shares held in treasury. The total number of voting rights in the Company following Admission will therefore be 147,206,221. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:

 

"I would like to thank again the investors who backed Nostra Terra in April 2017 and have continued to back the Company since. The original placement added to the foundation for our exciting growth over the last twelve months. I'm happy that our funding strategy worked and enabled us to embark fully on our new strategy.

 

Thanks to the Senior Lending Facility we secured and the Company becoming cash flow positive, we were already fully funded for our next two wells. The additional funds we've received from warrant exercises have simply further strengthened our balance sheet. With oil prices continuing to remain above $60 Nostra Terra and our Permian portfolio, hosting 24 drill-ready locations, 2018 continues to hold a great deal of promise for our business."

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

For further information, visit www.ntog.co.uk or contact:

 

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

 

Tel:

+1 480 993 8933

Strand Hanson Limited

(Nominated & Financial Adviser and Joint Broker)

Rory Murphy / Ritchie Balmer / Jack Botros

 

Tel:

+44 (0) 20 7409 3494

Smaller  Company Capital Limited (Joint Broker)

Rupert Williams / Jeremy Woodgate

Tel:

+44 (0) 20 3651 2910

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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