Eco (Atlantic) completes direct equity subscription

Executive Summary

• Eco (Atlantic) Oil & Gas Ltd. has completed the closing of its previously announced direct equity subscription, raising US$10 million following conditional approval from the TSX Venture Exchange.
• The company issued 26,909,091 new common shares at an issue price of 27.5 pence (51 Canadian cents) per share, accompanied by one warrant per share.
• Admission of the subscription shares to the Alternative Investment Market (AIM) is scheduled for January 30, 2026, at 8 a.m. GMT.

Key Details

• Transaction Structure: Direct equity subscription of US$10 million.
• Shares Issued: 26,909,091 new common shares.
• Issue Price: 27.5 pence (51 Canadian cents) per share.
• Warrant Terms: One warrant issued for each subscription share; entitles holder to subscribe for one new common share at an exercise price of 40 pence (74 Canadian cents) per share; exercisable for a period of three years from the date of admission.
• Admission Date: January 30, 2026, at 8 a.m. GMT on the Alternative Investment Market (AIM).
• Post-Admission Share Capital: Total issued share capital will be 342,141,027 common shares.
• Regulatory Context: All conditions save for admission have been satisfied pursuant to the subscription announced on January 23, 2026.

Notable Quotes

• No direct quotes from management were included in the provided text.