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LONDON (Alliance News) - Canadian Overseas Petroleum Ltd on Wednesday said it has closed the brokered portion of its private placement, raising USD7.1 million.
The companied issued 100.9 million shares at 7.00 US cents per share to raise the funds. In total, the company has raised USD8.6 million through the brokered and non-brokered private placings it has launched.
Shares in the company were untraded in London Wednesday at 3.80 pence.
The funds will be used to back the company's work on its projects in West Africa, including drilling its first exploration well in Liberia.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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