Africa Energy Corp. held its annual general and special meeting of shareholders in Vancouver, British Columbia today , and all resolutions were passed. View PDF version. Shareholders voted as follows on the matters before the meeting: Election of Directors Shareholders elected the following six board members to serve on the Company's board of directors until the next annual meeting of shareholders or until their [...]
Africa Energy Corp. announces that, following the signing of non-binding agreements that were previously announced December 20, 2024, the Company, Arostyle Investments Proprietary Ltd. and Main Street 1549 Proprietary Ltd have now executed definitive binding agreements for the purpose of restructuring the Company's and Arostyle's investment in Main Street. View PDF version. Main Street currently has a direct 10 [...]
Africa Energy announces an update to the consolidation of common shares of the Company , further to its press releases on January 30, 2025 and March 31, 2025. The consolidation of the Shares on a 5:1 basis was approved by the Company's shareholders at the special meeting of shareholders held on March 27, 2025. Prior to the Consolidation, the Company has 2,395,812,249 Shares issued and outstanding. Following the [...]
Africa Energy is pleased to announce that its Annual General and Special Meeting of Shareholders will be held in Canada on Friday, June 20, 2025, at 9:00 am at Suite 2500, 666 Burrard Street, Vancouver, V6C 2X8 for the following purposes: To receive the consolidated audited financial statements and accompanying management discussion and analysis of the Company for the year ended December 31, 2024, together with the report [...]
Africa Energy announces corporate update and financial and operating results for the three months ended March 31, 2025. View PDF Version On March 31, 2025, the Company closed a non-brokered private placement of common shares and a shares-for-debt transaction, which significantly improved the Company's financial position. These transactions allowed the Company fully repay its debt, which consisted exclusively of [...]
Africa Energy Corp. is pleased to announce that it has hired Dr. Phindile Masangane as Head of Strategy and Business Development. In addition, Dr. Masangane will join the Company's Board of Directors, effective immediately. View PDF version Robert Nicolella, Africa Energy's Chief Executive Officer, commented, "We are pleased to have Phindile join our leadership group. She brings a significant amount of experience in the [...]
Africa Energy announces the successful closing of its non-brokered private placement of common shares of the Company previously announced on Dec 23, 2024 and updated on Jan 30, 2025. As previously disclosed, the transaction consisted of a shares for debt transaction whereby the Company settled US$5,425,607 of existing indebtedness through the issuance of 389,847,000 Shares to existing debtholders, and a non- brokered [...]
Africa Energy announces financial and operating results for the year ended December 31, 2024. FINANCIAL AND OPERATIONAL UPDATE The Company's financial results for the year ended December 31, 2024 have been negatively impacted by a US$97.4 million non-cash loss on revaluation of our investment in Block 11B/12B, offshore South Africa, which was due to changes in base assumptions for discount rates applied in the discounted [...]
Africa Energy announces an update to the non-brokered private placement of common shares of the Company, previously announced on December 23, 2024. Following discussions with the TSXV, the transaction will now consist of a shares for debt transaction whereby the Company will settle approximately US$5,425,000 of existing indebtedness through the issuance of 389,847,000 Shares to existing debtholders, and a non-brokered [...]
Africa Energy is pleased to announce that it intends to complete a non-brokered private placement of up to 988,000,000 common shares to be sold at a purchase price of Canadian $0.02 per Share for aggregate gross proceeds of up to approximately US$13,750,000. In connection with the Private Placement, certain lenders under the Company's existing debt have committed to supporting the Private Placement. Deepkloof Limited has [...]
Africa Energy announces that the Company and Arostyle Investments Proprietary Ltd. have entered into a non-binding agreement to restructure their joint investment in Main Street 1549 Proprietary, which currently has a direct 10% participating interest in Block 11B/12B offshore South Africa. View PDF version The Company owns 49% of the common shares and 100% of the Class B shares of Main Street. The remaining 51% of the [...]
Africa Energy Corp. announces that the Company, through its investment in Main Street 1549 Pty Ltd. , has formally become the operator of Block 11B/12B offshore South Africa. View PDF version Main Street is currently in the process of obtaining all the important information from the previous operator, including drilling, reservoir and development engineering data. Main Street is in the process of completing the [...]
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