Africa Oil Corp. - 2015-05-01

Entered into investment agreement with Stampede Natural Resources S.a.r.l., a fund owned by investment firm Helios Investment Partners LLP to sell about 52.6 million common shares in a private placement. The shares were priced at C$2.31 each. Stampede will own about 12.37% of the issued and outstanding common shares. Net proceeds of the private placement will support East African appraisal and development work. New shares will list on NASDAQ after Toronto Stock Exchange approval of transaction, which is scheduled to close May 29. Shares subject to Canadian securities laws for four months and one day from transaction’s close.