Africa Oil Confirms Closing of Prime Debt Refinancing and Dividend Payment to Prime Shareholders
VANCOUVER, BC, June 20, 2023 /CNW/ (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) is pleased to announce that its investee company, Prime Oil & Gas Coöperatief U.A. (“Prime”), has confirmed the closing of its debt refinancing and thus significantly increasing its debt capacity and extending its debt maturity profile. This supports the distribution of dividends by Prime to its shareholders and, Prime will distribute the first dividend of 2023 for $125.0 million or $62.5 million net to Africa Oil’s 50% shareholding in Prime on June 21, 2023. The