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Canadian Overseas Petroleum closes £2.4 million placing and is admitted to trading on the London Stock Exchange's main market

Fasken
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Canadian Overseas Petroleum Limited (the “Company”), a TSX-V listed independent international oil and gas exploration and development company with offshore West Africa and onshore New Zealand assets, announced its admission to the standard listing segment of the Official List maintained by the Financial Conduct Authority and the admission of its common shares to trading on the London Stock Exchange plc’s main market for listed securities. Fasken Martineau advised GMP Securities Europe LLP (“GMP”), in its capacity as financial adviser and joint broker to the Company and finnCap Ltd (“finnCap”), in its capacity as joint broker to the Company on the transaction, which included the placing of 17,777,777 new common shares at a price of £0.135 per share. The gross proceeds from the transaction amounted to £2.4 million. The net proceeds of the placing will be used by the Company for working capital and for general and administrative expenses. GMP and finnCap were advised by Fasken Martineau with a corporate team led by partner Abayomi Akinjide and partner June Paddock, assisted by Laura Bradley.

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