Completion of Subscription and Issue of Shares
Toronto, Ontario (FSCwire) - Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG), is pleased to announce that further to the Company's announcement on 13 November 2017 that the Subscription of shares by Africa Oil Corp ("AOC") has been completed.
Through this subscription AOC has received 29,200,000 new common shares in Eco and now holds an interest of approximately 19.77 per cent in the Company. Admission of these shares will be at 8:00am on 17 November 2017. Upon Admission, the Company will have a total of 147,683,433 common shares in issue. Following the completion of this transaction Eco has now raised approximately CAD $14 million (£8.46 million) which will be used to actively identify, negotiate and contract new oil and gas exploration assets and conduct the initial work programmes.
**ENDS**
For more information, please visit www.ecooilandgas.com or contact the following:
Eco Atlantic Oil and Gas | +1 (416) 250 1955 |
Gil Holzman, CEO Colin Kinley, COO Alan Friedman, VP Finlay Thomson, UK and IR manager | +44 (0) 7976 248471 |
Strand Hanson Limited (Financial & Nominated Adviser) | +44 (0) 20 7409 3494 |
James Harris Rory Murphy James Bellman | |
Brandon Hill Capital Limited (Joint Broker) | +44 (0) 20 3463 5000 |
Alex Walker Jonathan Evans Robert Beenstock | |
Peterhouse Corporate Finance (Joint Broker) | +44 (0) 20 7469 0930 |
Eran Zucker Duncan Vasey Lucy Williams | |
Blytheweigh (PR) | +44 (0) 20 7138 3204 |
Nick Elwes Tim Blythe |
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/7083W_1-2017-11-16.pdf
To view this press release as a PDF file, click onto the following link:public://news_release_pdf/ecoatlantic11162017.pdf
Source: Eco Oil and Gas Ltd. (TSX Venture:EOG, LSE:ECO)
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