Business
PetroTal Announces Exercise of Investor and Performance Warrants and Total Voting Rights
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - October 8, 2021) - PetroTal Corp. (TSXV...
About this update from Petrotal Corp.
[{"type":"text","content":"PetroTal Announces Exercise of Investor and Performance Warrants and Total Voting RightsCalgary, Alberta and Houston, Texas--(Newsfile Corp. - October 8, 2021) - PetroTal Corp. (TSXV: TAL) (AIM: PTAL) (OTC Pink: PTALF) (\"PetroTal\" or the \"Company\") announces that it received a notice to exercise 1,000,000 Investor Warrants over 1,000,000 Common Shares at a price of 16 pence per Common Share from an investor in relation to the Investor Warrants issued on June 12, 2020 as part of the fundraising announced on June 12, 2020. In addition, PetroTal received notice to exercise 668,650 Performance Warrants at a price of $0.1869 USD per Common Share. Accordingly, PetroTal received 160,000 GBP and 124,970 USD, respectively, for both of the Warrant Exercises, and issued a total of 1,668,650 new Common Shares (\"Warrant Shares\") to the investors. Subsequent to both warrant exercises, the Company will have 69,101,946 Investor Warrants and 25,081,350 Performance Warrants outstanding.Application will be made for admission of the 1,668,650 Warrant Shares, which will rank pari passu with existing Common Shares, to trading on AIM (\"Admission\"). It is expected that Admission will become effective, and trading will commence at 8.00 am on October 13, 2021.Following Admission, the Company will have 820,205,515 Common Shares issued and there are no shares held in treasury. This figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.ABOUT PETROTALPetroTal is a publicly traded, tri‐quoted (TSXV: TAL) (AIM: PTAL) and (OTC Pink: PTALF) oil and gas development and production Company domiciled in Calgary, Alberta, focused on the development of oil assets in Peru. PetroTal's flagship asset is its 100% working interest in Bretana oil field in Peru's Block 95 where oil production was initiated in June 2018. In early 2020, PetroTal became the second largest crude oil producer in Peru. The Company's management team has significant experience in developing and exploring for oil in Peru and is led by a Board of Directors that is focused on safely and cost effectively developing the Bretana oil field. It is actively building new initiatives to champion community sens...