Petroleum Africa
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Thursday, July 24, 2014
Vanoil Energy Ltd. plans to submit an application to the TSX Venture Exchange to extend the expiry date of the following issued and outstanding share purchase warrants (Warrants): (i) 4,025,818 Warrants expiring August 2, 2014; (ii) 4,291,666 Warrants expiring August 10, 2014; and (iii) 56,423 Warrants expiring August 21, 2014.
The Warrants were originally issued pursuant to a private placement of $0.60 Units that closed in three tranches on August 2, 10 and 14, 2012. Each Warrant is exercisable into a common share at a price of $1.00 for a period of two years after the respective closing. Subject to regulatory approval, all of the Warrants will be extended to August 2, 2017. There will be no change in the exercise price.
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