30th Mar 2016 10:13
LONDON (Alliance News) - Oil and gas firm Canadian Overseas Petroleum Ltd on Wednesday said it will raise USD6.0 million through a private placement on the Toronto Stock Exchange.
The company, which has Toronto and London listings, said it has hired Dundee Securities to run the offer of up to 85.7 million units at 7 cents per share.
Canadian Overseas said it also intends to market a private placement to investors in the UK, in addition to the Canadian offering.
Shares in Canadian Overseas were down 3.5% to 4.10 pence in London.
By Sam Unsted; [email protected]; @SamUAtAlliance
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