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Canadian Overseas Petroleum Ltd - sub-Saharan Africa-focused oil and gas explorer - Agreed with two institutional investors and two high net worth private investors to raise proceeds of GBP1.3 million through a private placement. The money raised will go towards general and administrative costs. Has also agreed with creditors a debt exchange scheme which will see the company pay USD1.6 million of historic debt.
Current stock price: 0.32 pence
Year-to-date change: up sharply from 0.070p
By Eric Cunha; ericcunha@alliancenews.com
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