Africa Oil Corp. Acquires Shares of Eco (Atlantic) Oil and Gas Ltd.

Africa Oil Corp. (TSX:AOI) (OMX:AOI) announced that it had acquired 29,200,000 common shares of Eco (Atlantic) Oil and Gas Ltd. (“Eco” or the “Company”) (TSXV:EOG or AIM:ECO) for CAD$0.48 per common share.

The common shares acquired by Africa Oil, represent approximately 19.77% Eco’s issued and outstanding share capital. The common shares were acquired by private arrangement through the facilities of the TSX Venture Exchange on November 15, 2017 for a total consideration of CAD$14,016,000 (approximately US$10.9 million).

Source / More: Africa Oil

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