SOURCE: Canadian Overseas Petroleum Ltd

April 27, 2016 09:02 ET

Canadian Overseas Petroleum Ltd: CORRECTION Expected Admission to Trading in London

CALGARY, AB--(Marketwired - Apr 27, 2016) - Canadian Overseas Petroleum Limited (TSX VENTURE: XOP) (LSE: COPL)

TSX-V: XOP

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The full amended text is shown below

Canadian Overseas Petroleum Limited Announces Expected Admission to Trading in London of Shares

Calgary, Canada, April 27, 2016 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (TSX VENTURE: XOP) (LSE: COPL), wishes to clarify that the previously announced application for the admission (the "New Shares Admission") to the standard listing segment of the Official List, and to trading on the London Stock Exchange's main market for listed securities, has been made in relation only to the 22,857,143 common shares of no par value in the capital of the Company (the "New Shares"), which form part of the 22,857,143 units (the "Units") issued pursuant to the previously announced first tranche private placement to investors in the United Kingdom on a non-brokered basis which is expected to close on April 28, 2016 (the "Offering"). Each Unit consists of one common share in the capital of the Company and one common share purchase warrant. The New Shares Admission continues to be expected to become effective at 8:00 am (London time) on April 28, 2016. Application for admission of the common shares underlying the warrants forming part of the Units will be made by the Company upon exercise of such warrants.

All securities issued in relation to the Offering will be subject to a four month trading hold period through the facilities of the TSXV, pursuant to applicable securities laws and the policies of the TSXV.

In accordance with section 86(1)(b) of the Financial Services and Markets Act 2000 (as amended), and Prospectus Rule 1.2.3(R)(1), the Company is not required to publish a prospectus in relation to the Offering or the New Shares Admission. 

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http://www.rns-pdf.londonstockexchange.com/rns/5323W_1-2016-4-27.pdf

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