Africa Hydrocarbons Inc. (TSXV:NFK.H) announced a brokered private placement of a minimum of 400,000 subscription receipts and a maximum of 800,000 subscription receipts at a price of CAD 1.25 per subscription receipt for minimum gross proceeds of CAD 500,000 and maximum gross proceeds of CAD 1,000,000 on January 22, 2018. Each subscription receipt will entitle the holder to receive one common share of the company and one-half of one common share purchase. Each warrant will entitle the holder to purchase one common share at an exercise price of CAD 2 per common share for 12 months from closing. The transaction is expected to close in mid-February 2018 and is subject to certain conditions, including approval of the Exchange. All of the securities will be subject to a hold period of four months and a day.