Eco Atlantic Announces Exercise of Options

Source: www.gulfoilandgas.com 9/6/2021, Location: Africa

Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in Guyana and Namibia , announces that it has issued 250,000 new common shares pursuant to an exercise of share options at a price of CAD$0.36 per common share (the "Option Shares") and for total proceeds of CAD$90,000 .

Application has been made for admission of the 250,000 Option Shares, which will rank pari passu with existing Common Shares, to trading on AIM ("Admission"). It is expected that Admission will become effective and trading will commence at 8:00 a.m. on 9 September 2021 .

Following Admission, the enlarged issued share capital of the Company will be [199,893,636] Common Shares. The Company does not hold any common shares in treasury and accordingly there are no voting rights in respect of any treasury shares. Accordingly, the above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.


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