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Canadian Overseas Petroleum closes unit offering of approximately C$7.2 million

Fasken
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Various Clients

Canadian Overseas Petroleum Limited (the “Company”), an independent international oil and gas exploration and development company listed on the TSX-V and the main market of the London Stock Exchange Plc, completed a marketed offering (the “Offering”) of units of the Company (the “Units”). Fasken Martineau advised GMP Securities L.P. and Dundee Securities Ltd. in their capacities as agents to the Company in relation to the Offering. Pursuant to the Offering, the Company issued an aggregate of 80,288,699 Units, at a price of C$0.09 per Unit, for aggregate gross proceeds of approximately C$7.2 million. Each Unit consists of one common share (“Common Share”) in the capital of the Company and one Common Share purchase warrant (“Warrant”). The Offering was led by GMP Securities L.P. and Dundee Securities Ltd. Fasken Martineau advised GMP Securities L.P. and Dundee Securities Ltd. on this matter by a team led by Abayomi Akinjide (corporate) and assisted by Jodi Katz (corporate), June Paddock (corporate), Vanessa McMinn (corporate) in London and Mitchell Thaw (tax) in Toronto.

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