IN BRIEF: Eco Atlantic Oil & Gas raises USD7.7 million from share sale
Eco Atlantic Oil & Gas Ltd - Toronto-based explorer on offshore Atlantic margins - Enters agreements with two Israel-based institutional investors to subscribe for new shares worth USD7.7 million. Eco Atlantic will issue 18.0 million new shares, a 4.9% stake in its resulting enlarged total, at 32.5 pence each to the investors, which it doesn't name. The fresh cash "strengthens our financial position as we progress our licences in Guyana, Namibia and South Africa, and the completion of our acquisition of JHI, while maintaining a strong balance sheet and preserving significant upside for shareholders," says Chief Executive Officer Gil Holzman. Read More