VANCOUVER, BC, Sept. 21, 2020 /CNW/ - Africa Energy
Corp. (TSXV: AFE) (Nasdaq First North: AEC) ("Africa Energy" or
the "Company") announces that a Special Meeting of Shareholders
(the "Special Meeting") will be held in Canada on Thursday,
October 15, 2020 at 9:00 am (Pacific
Time) at Suite 2000, 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8, in
order to approve matters related to the recently announced
transactions with Impact Oil & Gas Limited ("Impact") and
Arostyle Investments (RF) Proprietary Limited ("Arostyle") through
which the Company will increase its effective interest in Block
11B/12B
offshore South Africa from 4.9% to
10% (the "Transactions"), subject to various consents and
approvals. View PDF Version
The Company has received conditional approval from the TSX
Venture Exchange (the "TSXV") in respect of the Transactions.
Closing is expected to take place within the next thirty (30) days
pending satisfaction of the closing conditions in respect of the
Transactions, including final approval of the TSXV and
disinterested shareholder approval at the Special Meeting. The
Company will provide a further update once closing of the
Transactions has taken place or as may otherwise be required in
accordance with the policies of the TSXV and applicable law.
At the Special Meeting, Shareholders will be asked to consider
and, if deemed appropriate, approve an ordinary resolution as set
forth in the management information circular dated September 18, 2020 (the "Circular"), relating to
the approval of Impact becoming a "Control Person" (as defined in
the policies of the TSXV) of the Company and approving the terms of
the Transactions. Impact will be considered a Control Person under
the policies of the TSXV as it will hold more than 20% of the
outstanding voting shares of Africa Energy upon completion of the
Transactions.
The record date for the Special Meeting is September 9, 2020. The Notice of Meeting,
Circular and related meeting materials are available under the
Company's profile on SEDAR at www.sedar.com and on the Company's
website at www.africaenergycorp.com.
Holders of Euroclear Sweden Registered Shares
The information set forth below is of significance to
shareholders who hold their securities ("Euroclear Registered
Securities") through Euroclear Sweden AB, which securities trade on
Nasdaq First North Growth Market Stockholm. Shareholders who hold
Euroclear Registered Securities are not registered holders of
voting securities for the purposes of voting at the Special
Meeting. Instead, Euroclear Registered Securities are
registered under CDS & Co., the registration name of the
Canadian Depositary for Securities. Holders of Euroclear Registered
Securities will receive a voting instruction form ("VIF") by mail
directly from Computershare AB ("Computershare Sweden").
Additional copies of the VIF, together with the Circular, can also
be obtained from Computershare Sweden and are available on the
Company's website (www.africaenergycorp.com). The VIF cannot
be used to vote securities directly at the Special Meeting.
Instead, the VIF must be completed and returned to Computershare
Sweden, strictly in accordance with the instructions and deadlines
described in the instructions provided with the VIF.
About Africa Energy Corp.
Africa Energy Corp. is a Canadian oil and gas company with
exploration assets offshore South
Africa and Namibia. The
Company is listed in Toronto on
TSX Venture Exchange (ticker "AFE") and in Stockholm on Nasdaq First North Growth Market
(ticker "AEC"). Africa Energy is part of the Lundin Group of
Companies.
Important information
This information is information that Africa Energy is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact persons set out above on September 21, 2020 at 1:00
a.m. ET.
The Company's certified advisor on Nasdaq First North
Stockholm is Pareto Securities AB, +46 8 402 5000,
certifiedadviser.se@paretosec.com.
Forward looking statements
Certain statements contained in this press release constitute
forward-looking information, including timing for completion of the
Transactions, obtaining disinterested shareholder approval in
respect of the Transactions, obtaining final TSXV approval in
respect of the Transactions and the completion of such
Transactions. These statements relate to future events or the
Company's future performance, business prospects and opportunities,
which are based on assumptions of management.
The use of any of the words "will", "expected", "planned" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Company's current belief or
assumptions as to the outcome and timing of certain future events.
These forward-looking statements involve risks and uncertainties
relating to, among other things, changes in oil prices, results of
exploration and development activities, including results, timing
and costs of seismic and drilling activity in the Company's area of
operations and, uninsured risks, regulatory changes, defects in
title, availability of funds required to participate in the
exploration activities, or of financing on reasonable terms,
availability of materials and equipment, timeliness of government
or other regulatory approvals, actual performance of facilities,
availability of third party service providers, equipment and
processes relative to specifications and expectations and
unanticipated environmental impacts on operations. Actual future
results may differ materially. Various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to the Company. The forward-looking information contained
in this release is made as of the date hereof and the Company is
not obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Africa Energy Corp.
