2 June 2015
Gernandt & Danielsson advised Africa Oil Corp. in connection with Africa Oil’s private placement of approximately USD 100 million
Gernandt & Danielsson advised Africa Oil Corp. in connection with Africa Oil's private placement of approximately USD 100 million
Africa Oil has issued shares in a private placement of USD 100 million
Africa Oil Corp. announced on 29 May 2015 the completion of a private placement of USD 100 million. Pursuant to an Investment Agreement dated 1 May 2015, 52,623,377 common shares, issued at a price of CAD 2.31 per share for gross proceeds of CAD 121,560,000 (USD 100 million, based on USD / CAD Bloomberg time stamp exchange rate (1.2156) as of 18:30 GMT on May 1, 2015) have been released to Stampede Natural Resources S.à r.l. ("Stampede"), an entity owned by a fund advised by Helios Investment Partners LLP ("Helios"). Stampede now holds approximately 12.37% of the issued and outstanding common shares of the Company. In connection with the private placement, the company published an admission to trading prospectus on 1 June 2015 regarding the new shares.
Gernandt & Danielsson advised Africa Oil Corp. with a team consisting of Partner Carl Westerberg and Associate Erika Olofsson.