Sign up USA
Proactive Investors - Run By Investors For Investors

Eco Atlantic publishes AIM admission papers with £4.8mln conditional placement

Energy explorer Eco (Atlantic) Oil & Gas said on Friday it has published its AIM Admission Document as it seeks to raise C$7.83mln as part of its common stock becoming listed on London’s Alternative Investment Market next week
Eco Atlantic publishes AIM admission papers with £4.8mln conditional placement
Eco (Atlantic) could be on London's AIM on Feb 8

Energy explorer Eco (Atlantic) Oil & Gas Ltd. (CVE:EOG) said on Friday it has published its AIM papers as it seeks to raise C$7.83mln as part of its ambitions of joining London’s Alternative Investment Market next week.

The company expects that AIM Admission and commencement of share dealings to begin on February 8.

The oil and gas exploration company has offshore licences in highly prospective regions in South America and Africa.

In connection with the AIM Admission, the company has entered into agreements for the UK private placement of 30,000,000 Common Shares), conditional upon the AIM Admission and receipt of TSX Venture Exchange approval.

Following its book-building process, in which the new Common Shares were conditionally subscribed for at £0.16 (C$0.26) per Common Share, and completion of the UK Placing the gross proceeds available to the company will be approximately £4.8mln (C$7.83mln) and the net proceeds, after unpaid transaction costs, will be approximately £4.1mln (C$6.7mln).

The company anticipates it may receive additional subscriptions prior to closing.

The UK placing was led by the company's joint brokers Brandon Hill Capital Limited (as lead broker) and Peterhouse Corporate Finance Limited (as joint broker). Strand Hanson Limited is acting as financial and nominated adviser to the Company in relation to the AIM Admission.

View full EOG profile View Profile

Eco Atlantic Oil & Gas Ltd Timeline

Related Articles

carnarvon-petroleum-MD-Adrian-Cook-757.jpg
February 02 2017
Adrian Cook discussed the company's 2017 exploration plan with investors.
drillrigarty.jpg
October 18 2016
Drilling will begin late this quarter and is expected to take between 45 and 60 days.
A drill rig
April 06 2017
"The winning of the ONGC tender against 16 other well established drilling contractors is a confirmation of Greka Drilling's mastery within the CBM niche.”
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use