Nostra Terra Oil & Gas: Exercise of Directors warrants and associated loan

Friday, June 29, 2012

Nostra Terra, the AIM-quoted oil and gas producer with projects in the USA, announces that Matt Lofgran, Chief Operating Officer, has today exercised warrants to subscribe for 217,842,506 ordinary shares at a price of 0.1p per share originally granted on 30 June 2009 ("Warrants").

In order to satisfy the consideration associated with the exercise of the Warrants Matt Lofgran has entered into a secured loan note (the "Secured Loan Note") with YA Global Master SPV, Ltd ("YA Global"). The Secured Loan Note is for a term of 12 Months. As part of the conditions of the Secured Loan Note, Matt Lofgran has granted a fixed charge over 289,842,506 ordinary shares of 0.1p each in the Company ("Ordinary Shares") as security to YA Global.

Following the exercise of the 217,842,506 Warrants, Matt Lofgran is interested in 296,842,506 Ordinary Shares and 14,000,000 options at an exercise price of 0.41 pence per Ordinary Share that are eligible for exercise until 25 January 2017.

The 217,842,506 new Ordinary Shares to be issued pursuant to the exercise of the Warrants will rank pari passu in all respects with the existing issued ordinary share capital of the Company. Application has been made for the new Ordinary Shares to be admitted for trading on AIM and trading is expected to commence on 5 July 2012 ("Admission").

TOTAL VOTING RIGHTS

Following Admission of the new Ordinary Shares, the issued share capital of the Company will increase by 11.2 per cent to 2,167,943,091 Ordinary Shares of 0.1p each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules (as applied to the Company by AIM Rule 17).

Matt Lofgran, Chief Executive of Nostra Terra, commented:

"Exercising these Warrants at this time demonstrates my long term commitment and belief in the future of Nostra Terra."

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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Source: http://feeds.oilvoice.com/~r/OilvoiceHeadlines/~3/e90dhlDIN8s/58fb4a2e3f7e.aspx

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