RE: Canada 0.35 (22.5p) closed28 Jul 2022 12:17
Anavio Equity Capital Markets Master Fund Limited Announces
Acquisition of Securities of Canadian Overseas Petroleum Limited
London, United Kingdom; Calgary, Canada, July 27, 2022 – Anavio Equity Capital Markets
Master Fund Limited (“Anavio”), reports that it has completed the purchase of two series of senior
convertible bonds having an aggregate principal amount of US$16.8 million ($8.4 million maturing
in 2024 and $8.4 million maturing in 2025) (collectively, the “Bonds”), convertible into 83,958,000
common shares (“Common Shares”) in the capital of Canadian Overseas Petroleum Limited
(“COPL”); and the acquisition, for no additional consideration, of warrants (“Warrants”) providing
for the right to acquire 42,398,790 Common Shares (together with the Bonds, the “Securities”).
The Securities were purchased directly from COPL and not through the facilities of any stock
exchange or other marketplace.
Immediately prior to the acquisition, Anavio did not own or exercise control or direction over any
Common Shares. The full conversion of the Bonds would result in the issuance of Common Shares
representing approximately 26% of the currently issued and outstanding Common Shares, and the
exercise of all Warrants would result in the issuance of Common Shares representing approximately
15% of the currently issued and outstanding Common Shares (in each case, after giving effect to
such conversion or exercise, as applicable, and such interests of Anavio would be approximately
20% and 10%, respectively, if all of the Bonds and Warrants issued by COPL to Anavio and
Sign In
Follow the stocks
