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Eco Atlantic Oil & Gas ( (TSE:EOG) ) has shared an update.
Eco Atlantic Oil & Gas has received a notice to exercise stock options over 600,000 common shares belonging to the late Colin Kinley Family Estate, at an exercise price of US$0.22 per share, generating proceeds of about US$132,111. The new shares will be admitted to trading on the TSX Venture Exchange and AIM, increasing the company’s issued share capital to 349,209,027 common shares, and slightly diluting existing shareholders while expanding the free float and voting base.
Following admission, each Eco Atlantic common share will continue to carry one vote, and the company will hold no shares in treasury, providing a clear basis for investors to calculate their notifiable interests under disclosure rules. The share issuance reflects ongoing engagement of legacy stakeholders and modestly strengthens Eco Atlantic’s capital position as it pursues offshore exploration across its Atlantic Margin portfolio.
More about Eco Atlantic Oil & Gas
Eco Atlantic Oil & Gas is a TSX-V and AIM-listed exploration company focused on offshore Atlantic Margin basins, with licence interests in Guyana, Namibia, and South Africa. The company targets low carbon intensity oil and gas resources in stable emerging markets near existing infrastructure, aiming to create value for stakeholders during the energy transition.
For a thorough assessment of EOG stock, go to TipRanks’ Stock Analysis page.