Scandoil  

Oando Energy Resources acquires outstanding shares of Medal Oil


Published Feb 12, 2014
Oando Energy Resources Inc.-2

Oando Energy Resources Inc. announced that, the Toronto Stock Exchange ('TSX') has accepted notice of the proposed private placement of 35,070,063 common shares of the Company and 17,535,031 warrants for gross proceeds of US$50,000,000 (the 'Private Placement') and the proposed acquisition by the Company of the outstanding shares of Medal Oil Limited (the 'Medal Oil Acquisition'), which owns a 5% interest in OML 131, for a purchase price of US$5,000,000 to be satisfied by the issuance of 3,491,082 common shares of the Company and 1,745,541 warrants.

In addition, TSX has conditionally approved the listing of all common shares issuable (including underlying the warrants) pursuant to the Private Placement and the Medal Oil Acquisition. Listing will be subject to OER fulfilling all of TSX's listing conditions.

Tags: Oando Energy Resources Inc.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml