ReconAfrica Announces Upsize of Bought-Deal Public Offering to C$15 Million

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Last update: Mar 22, 2024

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VANCOUVER, British Columbia, March 22, 2024 (GLOBE NEWSWIRE) -- Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt : 0XD) is pleased to announce that it has entered into an amended agreement with Research Capital Corporation as the sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”) to increase the size of its previously announced bought-deal public offering, pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 16,666,700 units of the Company (the “Units”) at a price of C$0.90 per Unit for aggregate gross proceeds to the Company of C$15,000,030 (the "Offering").