NG Energy International Corp. announced a non-brokered private placement of 7,000,000 units at a price of CAD 1 per unit for gross proceeds of CAD 7,000,000 on October 7, 2021. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of 24 months following closing of the transaction at an exercise price of CAD 1.20 per share. The warrants are subject to accelerated expiry in the event the closing price of the common shares of the company on the TSX Venture Exchange is equal to or exceeds CAD 2 for twenty consecutive trading days. The financing has been fully subscribed with significant existing shareholder participation and is subject to TSXV Exchange approval.