Africa Oil Completes Impact Investment

Monday, March 12, 2018

Africa Oil Corp. completed its previously announced investment in Impact Oil & Gas. The investment gives it access to exploration assets in South and West Africa.

In connection with the investment, the company issued 13,946,545 common shares in the capital of the company to Helios Natural Resources 2 Ltd. and invested $15 million in shares and warrants of Impact. Africa Oil owns an approximate 25.2% equity interest in Impact.

PillarFour Securities acted as financial advisor and Pareto Securities acted as strategic advisor to Africa Oil in connection with the transactions.

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