WINNIPEG, June 10, 2011 /CNW/ - Nordic Oil and Gas Ltd. (the "Company"
or "Nordic"), (TSXV: NOG) announced today that it has entered into debt
settlement agreements with three un-related parties for trade services,
whereby debt of $80,000.00 will be settled through the issuance of
888,888 Class A Common Shares of the Company at a deemed price of $0.09
The completion of the shares for debt settlement is subject to final
approval by the TSX Venture Exchange, whereupon the shares will be
issued to each company.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of the contents of
this News Release.
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.
Follow us on Twitter - thousands do! www.twitter.com/Nordic_Oil
SOURCE Nordic Oil
For further information:
Nordic Oil and Gas Ltd.