VANCOUVER, BC, Oct. 15,
2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI)
– Africa Oil Corp. ("Africa Oil", or the "Company") is
pleased to report the voting results from the Company's special
meeting ("Meeting") of shareholders held today in Vancouver, British Columbia. This meeting was
held for shareholders to vote on the resolution to approve the
issuance of Common Shares to BTG Pactual Oil & Gas S.à r.l. in
connection with the amalgamation of Africa Oil Papa Corp., a wholly
owned subsidiary of Africa Oil, and BTG Pactual Holding S.à r.l.
("Amalgamation") This is for the purpose of consolidating 100%
ownership of Prime Oil & Gas Coöperatief U.A. ("Prime") in
Africa Oil. View PDF version
A total of 175,155,462 common shares were voted at the Meeting,
representing 39.54% of the votes attached to all the outstanding
common shares of the Company as at a record date of September 13, 2024. 99.61% of the votes cast were
in favour of the Amalgamation with 0.39% of the votes against the
Amalgamation.
The completion of the Amalgamation is subject to, among other
conditions, customary consents and approvals from the Nigerian
authorities, the Toronto Stock Exchange and Nasdaq Stockholm,
completion of the previously announced farm-down of Africa Oil's
Namibian interests that are held via Impact Oil & Gas Limited,
and a reorganization of the holding structure of BTG Pactual
Holding S.à r.l. to implement the Amalgamation.
About Africa Oil
Africa Oil Corp. is a Canadian oil and gas company with
producing and development assets in deepwater Nigeria, an interest in the Venus light oil
and associated gas discovery, offshore Namibia, and an exploration/appraisal
portfolio in west and south of Africa. The Company is listed on the Toronto
Stock Exchange and on Nasdaq Stockholm under the symbol "AOI".
Additional Information
This information is information that Africa Oil is obliged to
make public pursuant to the Swedish Financial Instruments Trading
Act. The information was submitted for publication, through
the agency of the contact persons set out above, at 05:00 p.m. EDT on October
15, 2024.
Forward Looking Information
Certain statements and information contained herein constitute
"forward-looking information" (within the meaning of applicable
Canadian securities legislation). Such statements and information
(together, "forward looking statements") relate to future events or
the Company's future performance, business prospects or
opportunities.
All statements other than statements of historical fact may be
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"seek", "anticipate", "plan", "continue", "estimate", "expect,
"may", "will", "project", "predict", "potential", "targeting",
"intend", "could", "might", "should", "believe" and similar
expressions) are not statements of historical fact and may be
"forward-looking statements". Forward-looking statements involve
known and unknown risks, ongoing uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. No assurance
can be given that these expectations will prove to be correct and
such forward-looking statements should not be unduly relied upon.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required by
applicable laws. These forward-looking statements involve risks and
uncertainties relating to, among other things, changes in
macro-economic conditions and their impact on operations, changes
in oil prices, reservoir and production facility performance,
hedging counterparty contractual performance, results of
exploration and development activities, cost overruns, uninsured
risks, regulatory and fiscal changes, defects in title, claims and
legal proceedings, availability of materials and equipment,
availability of skilled personnel, timeliness of government or
other regulatory approvals, actual performance of facilities, joint
venture partner underperformance, availability of financing on
reasonable terms, availability of third party service providers,
equipment and processes relative to specifications and expectations
and unanticipated environmental, health and safety impacts on
operations. Actual results may differ materially from those
expressed or implied by such forward-looking statements.
SOURCE Africa Oil Corp.