Anavio acquires shares of Securities of Canadian Overseas
by CM staff
The consideration paid for the sale shares was an aggregate purchase price of US$4,000,000 (C$5,436,400), based on a price of US$0.0317 (C$0.0431) per sale share.
LONDON and CALGARY — Anavio Equity Capital Markets Master Fund Limited (Anavio) reports that on October 12, it completed the purchase of 126,182,965 common shares in the capital of Canadian Overseas Petroleum Limited (COPL) and 126,182,965 common share purchase warrants. Each entitling Anavio to purchase one common share in the capital of the company at a price of GBP£0.026 (US$0.0317 (C$0.0431)) per common share, expiring August 26, 2027.
The consideration paid for the sale shares was an aggregate purchase price of US$4,000,000 (C$5,436,400), based on a price of US$0.0317 (C$0.0431) per sale share.
In connection with the transaction, the company amended the terms of its existing senior convertible bonds due 2027, its existing senior convertible bonds due 2028 and its existing warrants expiring on August 26, 2027, such that the conversion price of the bonds was set at a price of US$0.0317 (C$0.0431) per common share and the exercise price of each of the existing warrants was set at GBP£0.026 (US$0.0317 (C$0.0431)). The sale shares and the new warrants were purchased directly from COPL and not through the facilities of any stock exchange or other marketplace.
