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Eco (Atlantic) Oil and Gas Ltd. Announces PrimaryBid Retail Offer
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET AB...
About this update from Eco (atlantic) Oil & Gas Ltd.
[{"type":"text","content":"Eco (Atlantic) Oil and Gas Ltd. Announces PrimaryBid Retail OfferTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF ECO (ATLANTIC) OIL & GAS LTD.NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM, OR TO ANY PERSON LOCATED OR RESIDENT IN, the United States, Australia, Canada, the Republic of South Africa, Japan OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (\"FSMA\") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)TORONTO, ON / ACCESSWIRE / April 5, 2022 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSXV:EOG), the TSX-V and AIM quoted Atlantic Margin focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africais pleased to announce a conditional offer for subscription via PrimaryBid (the \"RetailOffer\") of new Common shares of nil-par value each in the Company (\"Retail Offer Shares\") at an issue price of 30 pence per Retail Offer Shares (the \"Issue Price\").As announced earlier today, the Company is also conducting a placing of new Common Shares at the Issue Price by way of an accelerated bookbuild process (the \"Placing\") to raise up to approximately US$21m. In addition, the Company has announced that Africa Oil Corp intends to subscribe for up to US$4m of new Common Shares at the Issue Price by way of a subscription (the \"Subscription\", together with the Placing and Retail Offer, the \"Equity Fundraise\").The Equity Fundraise is conditional on the new Common Shares to be issued pursuant to the Equity Fundraise being admitted to trading on AIM (\"Admission\"). Admission is expected to be take place at 8.00 a.m. on 11 April 2022. The Retail Offer will not be completed without the Placing and Subscription also being completed.The Company will use the net proceeds of the Equity F...