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Canadian Overseas Petroleum raise £6mln to fund 'prime asset' Atomic Oil & Gas acquisition

Canadian Overseas Petroleum Limited's (LON:COPL) President and CEO, Arthur Millholland talks to Proactive London about their £6mln raise.

This has been achieved through a non-brokered private placement of units with both institutional and private investors.

Millholland explains that due to this holiday season being different in its nature, people still working away at home, 'the paperwork could get done and things could get moving'.

The raise also involved family office, high net worth private investors and directors to help fund the purchase of Atomic Oil and Gas.

Quick facts: Canadian Overseas Petroleum Limited

Price: 0.3425 GBX

LSE:COPL
Market: LSE
Market Cap: £33.08 m
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Canadian Overseas Petroleum hails 'exceptional' move to accelerate...

Canadian Overseas Petroleum Ltd's (LON:COPL) Arthur Millholland talks Proactive London through the inked a term sheet for US$65mln of debt financing that will facilitate its acquisition of US onshore producer Atomic Oil and Gas LLC. The arrangement, for a senior credit facility, is with a...

on 21/1/21

2 min read