Scandoil  

Oando Energy Resources completes acquisition of Medal Oil


Published Jul 15, 2014
Oando Energy Resources Inc.-2

Oando Energy Resources Inc. has completed the acquisition of Medal Oil Company Limited (Medal Oil).

The purchase price of US$5,000,000 was satisfied by the issuance of 3,491,082 units, each unit consisting of one common share of the Company and one-half of one warrant to purchase an additional common share at a price of C$ 2.00 per common share for a period of 24 months from the date on which the Company closes the acquisition of the Nigerian upstream oil and gas business of ConocoPhillips the (CoP Acquisition).

Tags: Oando Energy Resources Inc.




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