ECAOF - Eco Atlantic issues consideration shares for acquisition of interest in block
- Oil and gas exploration company Eco Atlantic ( OTCPK:ECAOF ) ( TSXV: EOG:CA ) issued 21,060,000 new shares to the Lunn Family Trust as a consideration for the acquisition of an additional 6.25% participating interest in Block 3B/4B, offshore South Africa.
- The acquisition was made by the company's wholly-owned subsidiary, Azinam.
- ECAOF now holds a 26.25% participating interest in the block.
- The consideration shares are subject to certain restrictive hold periods.
- The consideration shares are expected to begin trading on or around Dec. 28, 8.00 a.m.
- Post the admission of the consideration shares for trading, the issued share capital will be 365,923,838 shares.
- Source: Press Release
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Eco Atlantic issues consideration shares for acquisition of interest in block