355  0 Kommentare Africa Oil Closes US$100 Million Financing

Africa Oil Corp. (TSX:AOI)(OMX:AOI) ("Africa Oil" or the "Company) is pleased to announce that it has closed the US$100,000,000 non-brokered private placement previously announced May 1, 2015. Pursuant to an Investment Agreement dated May 1, 2015, 52,623,377 common shares, issued at a price of CAD $2.31 per share for gross proceeds of CAD $121,560,000 (US $100 million¹) have been released to Stampede Natural Resources S.à r.l. ("Stampede"), an entity owned by a fund advised by Helios Investment Partners LLP ("Helios"). Stampede now holds approximately 12.37% of the issued and outstanding common shares of the Company. With the increase of 52,623,377 new common shares of the Company, the total number of issued and outstanding common shares of the Company is, as at the date hereof, 425,248,026 common shares with voting rights.

Also pursuant to the Investment Agreement, Andrew Bartlett, Oil and Gas Partner at Helios, has been appointed as Helios' nominee to the Africa Oil board of directors. Stampede has also been granted certain rights, including the right to participate for its pro-rata share in future financings.

Net proceeds of the private placement will be used towards the Company's ongoing appraisal and development work program in East Africa.

The Toronto Stock Exchange (the "TSX") has conditionally approved the private placement and the new shares will be admitted to trading on Nasdaq Stockholm following approval and registration of an admittance to trading prospectus with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen), expected on or about June 1, 2015.

The common shares issued pursuant to the private placement may not be sold, transferred or otherwise disposed of on the TSX or, except pursuant to an exemption from prospectus requirements under Canadian securities laws, to any person in Canada or otherwise into Canada until September 30, 2015.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.