Africa Energy Announces First Closing of Impact Transaction
Vancouver, BC, October 22, 2020 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North Growth Market: AEC) (“Africa Energy” or the “Company”) is pleased to announce that it has closed its previously announced transaction pursuant to an investment agreement (the “Investment Agreement”) with Impact Oil & Gas Limited (“Impact”) and Impact Oil & Gas SA Blocks 11B-12B Limited (“Impact 11B/12B”). Closing of the Company’s investment in Impact 11B/12B in accordance with the Investment Agreement is the first stage in a series of transactions designed to increase the Company’s effective