Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXF) notified the market is has issued 63.09 million new shares due to the conversion of bonds, representing $2 million principal.
The share issue was for some $800,000 of convertible bonds maturing in 2027, and $1.2 million of convertible bonds maturing in 2028. A further $11.6 million is outstanding for the 2027 series, whilst $10.8 million is outstanding for the 2028 series.