Africa Oil Corp. acquires shares of Eco Oil & Gas

11/17/2017

VANCOUVER -- Africa Oil Corp. today announced that it had acquired 29,200,000 common shares of Eco (Atlantic) Oil and Gas Ltd. for CAD$0.48 per common share.

The common shares acquired by Africa Oil, represent approximately 19.77% Eco's issued and outstanding share capital.

The common shares were acquired by private arrangement through the facilities of the TSX Venture Exchange on Nov. 15, 2017 for a total consideration of CAD$14,016,000 (approximately $10.9 million).