Atlas Capital Markets LLC Announces Sale of Shares of Canadian Overseas Petroleum Limited

LONDON, Jan. 12, 2024 /CNW/ - Atlas Capital Markets LLC ("Atlas") announces that on 11 January 2024 and 12 January 2024, it sold an aggregate of 135,000,000 common shares (the "Sale") of Canadian Overseas Petroleum Limited (the "Company"), representing, in aggregate, 10.042% of the Company's issued and outstanding common shares. The Sale consisted of 20,000,000 common shares sold on 11 January 2024 and 115,000,000 sold on 12 January 2024. The price per common share sold pursuant to the Sale was GBP 0.0004 (C$0.000682) on 11 January and GBP0.000748 (C$0.001275) on 12 January, for aggregate proceeds of GBP 94,020 (C$160,237.10). The Sale took place through the facilities of the London Stock Exchange.

Immediately prior to the Sale, Atlas owned 223,098,679 common shares of the Company, representing approximately 16.59503% of the issued and outstanding shares of the Company. 

Immediately following the Sale, Atlas currently owns 88,098,679 common shares of the Company, representing approximately 6.55315% of the issued and outstanding shares of the Company.

Atlas entered into the Sale for investment management purposes. Atlas intends to continue to review its ownership of common shares of the Company on a continuing basis and may determine to buy or sell additional securities of the Company.

The Company's head office is located at 3200, 715-5^th Avenue SW, Calgary, Alberta, T2P 2X6.

A copy of the early warning report required to be filed with the applicable Canadian securities commissions in connection with the transactions will be available under the Company's profile on SEDAR+ at www.sedar.com and can be obtained by contacting IR Team at [phone]. The address of Atlas Capital Markets LLC is 71 Fort Street, PO Box 500, Grand Cayman, Cayman Islands, KY1-1106.

SOURCE Atlas Capital Markets LLC