TORONTO, July 4, 2013 /CNW/ - Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic" or
the "Company") (TSX-V: EOG, NSX: EOG) announced today that it has applied to
the TSX Venture Exchange (the "Exchange") for approval to extend the expiry
date of 4,937,341 common share purchase warrants (the "Warrants") that were
issued as part of a non-brokered private placement completed by the Company in
January 2012. The Warrants are exercisable for common shares of Eco Atlantic
at a price of $1.00 per share and are currently set to expire at 5:00 p.m. EST
on July 6, 2013. The Company is proposing to extend the expiry date of the
warrants by an additional twelve (12) months to 5:00 p.m. EST on July 6, 2014.
All other terms and conditions of the warrants, including the exercise price,
will remain the same. The proposed extension of the Warrants is conditional
upon the receipt of Exchange approval.
About Eco Atlantic
Eco Atlantic is an oil and gas exploration company focused on the bourgeoning
energy play in Namibia. Through its wholly owned Namibian subsidiary ("Eco
Namibia"), it holds five Government of the Republic of Namibia issued
petroleum licenses. Offshore, Eco Atlantic holds three license blocks covering
more than 25,000 square kilometers (6,177,000 acres) and onshore, Eco Atlantic
holds two license blockscovering 30,000 square kilometers (7,413,000
acres). Eco Namibia, founded in 2008, enjoys a strong local presence having
a longstanding relationship with the energy and oil and gas sector in Namibia
and the region. The terms and conditions of these licenses are regulated by
agreements signed by Eco with the Government of the Republic of Namibia in
Forward Looking Statements
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain information in
this press release constitutes forward-looking statements under applicable
securities law. Any statements that are contained in this press release that
are not statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by terms such as
"may", "should", "anticipate", "expects" and similar expressions.
Forward-looking statements necessarily involve known and unknown risks,
including, without limitation, risks associated with oil and gas production
and exploration, marketing and transportation; retention of and ability to
attract Company personnel, regulatory approvals, loss of markets; volatility
of commodity prices; currency and interest rate fluctuations; imprecision of
reserve estimates; environmental risks; competition; inability to access
sufficient capital from internal and external sources; changes in legislation,
including but not limited to income tax, environmental laws and regulatory
matters. Readers are cautioned that the foregoing list of factors is not
Although Eco Atlantic believes in light of the experience of its officers and
directors, current conditions and expected future developments and other
factors that have been considered appropriate that the expectations reflected
in this forward-looking information are reasonable, undue reliance should not
be placed on them because Eco Atlantic can give no assurance that they will
prove to be correct. The forward-looking statements contained in this press
release are made as of the date hereof and Eco Atlantic undertakes no
obligation to update publicly or revise any forward- looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.
Neither the 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 press release.
Gil Holzman President and Chief Executive Officer firstname.lastname@example.org Tel:
Julia Maxwell Manager, Investor Relations email@example.com Tel:
SOURCE: Eco Oil & Gas (Atlantic) Ltd.
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CO: Eco Oil & Gas (Atlantic) Ltd.
NI: OIL PVT
-0- Jul/04/2013 19:43 GMT
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