Canadian Overseas Petroleum 3 million Common Pounds Share Offering
Calgary, Alberta (FSCwire) – Canadian Overseas Petroleum Limited (the "Company") (TSXV: XOP) (LSE: COPL), an international oil and gas exploration and development company, is pleased to announce a Common Share offering to raise gross proceeds of £3 million (US$ 3.8 million) (the "Placing"), pursuant to which the Company will issue 895,523,000 new common shares ("Placing Shares") at a price of 0.335 pence per Placing Share.
Management and certain insiders of the Company plan to subscribe for new common shares in the Company at the Placing Price (the "Subscription"). An announcement pertaining to the Subscription will be released by the Company in due course.
Full details of the Placing will be included in the Prospectus to be filed with the UK Listing Authority (the "UKLA"), which is expected to be published prior to the end of August 2018.
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Source: Canadian Overseas Petroleum Limited (TSX Venture:XOP, LSE:COPL)
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