NATION ENERGY INC: announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

6 Apr 2017capital raising announcement● Neutral

Nation SLP LLC, a majority-owned Nation subsidiary, sold membership interests totalling 9.25% of itself for a $5 million offering over 2016 and early 2017. Of this, $1,400,000 was sold by Dec 31, 2016, $2,700,000 from Jan 1 to Mar 30, 2017, and $900,000 on March 31, 2017 in the form of three $300,000 promissory notes, so part of the money is not yet received in cash. This is outside funding raised at the subsidiary level, not new Nation Energy shares.

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16 Feb 2016capital raising announcement▼ BadMajor

Nation and Paltar extended the deadlines a second time, to Feb 19, 2016 for the 600,000,000-share issue, escrow and registration, and to Feb 18 for Paltar's audited financials. The AUD$10,000,000 option price was also changed to 300,000,000 Nation shares if Nation chooses to exercise, which would add further dilution for existing holders if exercised.

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24 Apr 2015capital raising announcement● NeutralMajor

Nation Energy issued 134,000,000 shares at a deemed $0.01 per share to John Hislop, its sole director and officer, to settle $1,340,000 of debt it owed him. This carries out the debt settlement contemplated in the Paltar agreement, and it dilutes other shareholders.

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5 Dec 2001capital raising announcement● NeutralMajor

Nation Energy announced a private placement of 5,000,000 shares at US$0.20 each to a single investor, for US$1,000,000 in total. The money is for general working capital and its oil and gas exploration program in Alberta. New shares dilute existing holders.

What it means for a shareholder

5.0m new shares at US$0.200 to raise about US$1.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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