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Africa Energy Corp.
Private Placement

We acted for Africa Energy Corp. in respect of a private placement of an aggregate of 60,000,000 common shares at a price of CDN $0.25 (USD $0.1865) per share for gross proceeds of CDN$15 million. Africa Energy completed the private placement on November 15, 2016 and proposes to use the net proceeds of the private placement primarily to fund exploration expenditures in the Republic of South Africa, transaction costs relating to potential new venture opportunities, and general working capital purposes.

Africa Energy Corp. is a TSXV-listed oil and gas exploration company focussing on oil exploration opportunities in Africa.