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Canada,United Kingdom : Africa Oil Completes Investment in Impact Oil and Gas

Mar 08, 2018 (Euclid Infotech Ltd via COMTEX) --

Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce that it has completed the previously announced (February 7, 2018) investment (the "Investment") in Impact Oil and Gas Limited ("Impact"), a private UK company with exploration assets in South and West Africa.

In connection with the Investment, the Company issued 13,946,545 common shares in the capital of the Company to Helios Natural Resources 2 Limited and invested US$15 million in shares and warrants of Impact. Africa Oil owns an approximate 25.2% equity interest in Impact.

PillarFour Securities LLP acted as financial advisor and Pareto Securities acted as strategic advisor to Africa Oil in connection with the transactions described herein.

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