Africa Energy Closes Private Placement Raising US$4.5 Million
Africa Energy Corp. has successfully closed a previously announced non-brokered private placement, raising gross proceeds of US$4.5 million. The funds will support the company's operations in Africa.
VANCOUVER, B.C. – Africa Energy Corp. announced the successful closing of its non-brokered private placement, raising aggregate gross proceeds of US$4.5 million. The transaction involved the issuance of 47,000,000 common shares at a price of C$0.135 per share, totaling approximately C$6.3 million.
The capital raised is intended to strengthen the company's financial position and support its ongoing energy projects across Africa. Africa Energy is primarily focused on the exploration and production of oil and gas resources within the continent.
Africa Energy Corp. is listed on the TSX Venture Exchange under the symbol AFE and on Nasdaq First North under the symbol AEC. The company operates in several African countries, seeking to identify and develop hydrocarbon potential.