LONDON (Thomson Financial) - Falkland Gold and Minerals Ltd. said its offer
for BPC Ltd. is now unconditional, and it has received valid acceptances for
118.56 million BPC shares, representing BPC's entire issued share capital.
On Aug. 8, Falkland Gold said it would buy oil and gas exploration company
BPC in an all-share reverse takeover and that the enlarged group would need to
raise additional funds to undertake work in accordance with its exploration
strategy.
BPC was incorporated as a holding company for the BPC Group, which invests
in an offshore oil exploration programme covering about 15,676 square kilometres
in the territorial waters and maritime exclusive economic zone of the Bahamas.
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