IN BRIEF: Eco Atlantic Oil & Gas raises USD10 million from share issue
Eco Atlantic Oil & Gas Ltd - Atlantic margin-focused oil and gas explorer with offshore license interests in Guyana, Namibia and South Africa - Raises USD10 million from subscriptions to 26.9 million new shares at 27.5 pence per share. The new shares will represent 7.9% of the enlarged total. Each new share comes with a warrant for an additional share at 40p, exercisable over the next three years. Eco enters binding agreements with Israel-based institutional investors for the new shares. The fresh funds will be used geological and geophysical work at Eco's licenses in Guyana, Namibia and South Africa. "We are delighted to welcome a number of leading Israeli institutional investors to our share register through this USD10 million direct subscription," comments Eco Chief Executive Officer Gil Holzman. "Their participation and long-term commitment represents a strong endorsement of the quality of our Atlantic Margin portfolio, our exploration and value-creation strategy, and our disciplined, capital-efficient approach." Read More