Helios Investment to buy 12.37% of Africa Oil

Africa Oil Corp. said Friday that it agreed to sell to Stampede Natural Resources 52,623,377 of its common shares at a price of CAD $2.31 for gross proceeds of CAD $121,560,000 (US $100 million). Stampede is owned by Helios Investment Partners. Stampede, once the deal is closed, will own about 12.37 percent of Africa Oil, a Canadian oil and gas company with assets in Kenya and Ethiopia.

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