CALGARY, AB--(Marketwired - Apr 29, 2016) - Canadian Overseas Petroleum Limited (
NOT FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
TSX-V: XOP; LSE: COPL
Canadian Overseas Petroleum Limited Announces Closing of
UK Private Placement and Admission to Trading in London of Shares
Calgary, Canada, April 29, 2016 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (TSX-V: XOP) (
Pursuant to the terms of the Offering, the Company issued 22,857,143 units ("Units") at a price of £0.035 per Unit for aggregate gross proceeds of £800,000. Each Unit consists of one common share in the capital of the Company ("Common Share") and one common share purchase warrant ("Unit Warrant"). Each Unit Warrant entitles the holder thereof to purchase one Common Share at a price of £0.0475 per Common Shares at any time prior to 4:30pm (Calgary time) on the date that is 24 months from the closing date of the Offering.
All securities issued in relation to the Offering are subject to a four month trading hold period through the facilities of the TSXV, pursuant to applicable securities laws and the policies of the TSXV, expiring on August 29, 2016.
In accordance with section 86(1)(b) of the Financial Services and Markets Act 2000 (as amended), and Prospectus Rule 1.2.3®(1), the Company is not required to publish a prospectus in relation to the Offering or the New Shares Admission.
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http://www.rns-pdf.londonstockexchange.com/rns/7490W_1-2016-4-28.pdf
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