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Canadian Overseas Petroleum Announces Admission to Trading

04/09/2019

Canadian Overseas Petroleum Limited (“COPL”) (XOP: CSE) & (COPL: LSE) announces that, further to the announcement on 21 August 2019 with regard to the brokered placing of up to 500,000,000 new common shares in the capital of the Company by Shard Capital Partners LLP, admission to the standard listing segment of the Official List maintained by the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc (the "LSE") is expected to become effective at 8:00am (London time) today, Wednesday 4 September 2019.

Following Admission, the Company will have 3,483,752,463 common shares issued and outstanding.

In consideration for placing the New Shares, Shard has been: (i) paid a fee equal to six percent of the gross proceeds of the Placing; and (ii) issued 5,000,000 broker warrants in the capital of the Company, each Broker Warrant entitling Shard to subscribe for one common share in the capital of the Company at a price of 0.15 pence at any time prior to the second anniversary of Admission, 4 September 2021.

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