On January 15, 2024, Canadian Overseas Petroleum Limited closed the transaction. The company issued 1,312,232,633 common shares at a price £0.0015 per shares for a gross proceeds £1,968,348.9495. Post completion, Anavio will hold 24.5% of COPL's issued and outstanding share capital and grant 1,312,232,633 common share purchase warrants to be exercisable at £0.0015 per common share, expiring August 26, 2028