Canadian Ovrs Pet Ld - Private Placement of First Tranche of Units
Canadian Overseas Petroleum Limited Announces Private Placement
of First Tranche of Units
Each Unit consists of one common share ("Common Share") in the capital of the Company and one Common Share purchase warrant ("Warrant"). Under the First Tranche, each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of
The Company intends to use the net proceeds of the Offering to fund the Company's obligations on its ongoing projects in
Management, representing approximately 3% of the share capital of the Company, and certain insiders of the Company are expected to participate in the second tranche of the Offering for an amount approximately equal to or exceeding their proportionate current holdings in the Company.
The First Tranche offering is subject to customary conditions and the receipt of required regulatory approvals, including the approval of the LSE and the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in
The Company is an international oil and gas exploration and development company focused in the offshore
ShoreCan is building a portfolio of exploration and development assets in sub-Saharan Africa. To date, ShoreCan has taken a position in
The Common Shares are listed under the symbol "XOP" on the TSXV and under the symbol "COPL" on the
For further information on the Company, please link here: http://canoverseas.com/
For Further Information Please Contact:
Phone: + 1 403 262 5441
Investor and Public Relations
CHF Investor Relations
+1 (416) 868 1079 ext. 231
Toll Free: +1 877 838 1079
This press release may contain forward-looking statements under applicable securities legislation. Forward-looking information in this press release may include, but is not limited to, statements about the anticipated terms of the Offering and the First Tranche and the use of proceeds of the Offering. The forward-looking statements in this press release are based on the Company's current expectations and assumptions as to a number of factors including regulatory approvals and general economic and industry conditions. If those expectations and assumptions prove to be incorrect, or factors change, then actual results could differ materially from the forward-looking statements contained in this press release.
Generally, statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the impact of general economic conditions in the areas in which the Company operates, civil unrest, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with the oil and gas industry, therefore the Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amounts of proceeds, which the Company will derive therefrom. Such statements are based on assumptions made by the Company based on its experience perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
The forward‐looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward‐looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.
This information is provided by RNS
Quick facts: Canadian Overseas Petroleum Limited
Market Cap: £12.19 m
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