19:36:59 EDT Thu 02 Oct 2025
Enter Symbol
or Name
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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 303,592,183
Close 2025-10-02 C$ 0.46
Market Cap C$ 139,652,404
Recent Sedar Documents

Reconnaissance Energy Africa prospectus offering

2025-10-02 16:58 ET - Prospectus Approved

Financing type:  overnight marketed prospectus offering

Gross proceeds:  $20,373,740

Offering:  33,944,000 units and 100,000 listed warrants (Each unit comprised one listed share and one listed warrant.)

Offering price:  60 cents per unit

Warrant exercise terms:  72 cents per listed share for a two-year period

Overallotment option:  The underwriters may purchase a maximum of 4.5 million listed share and/or 4.5 million listed warrants for overallotment purposes. As of Sept. 29, 2025, such option has been partially exercised. All information presented herein includes such exercise.

Commissions in securities:  The lead broker received 166,667 units for advisory services rendered. Each unit comprises one listed share and one warrant on the same terms as the offering.

Broker warrants:  1,779,024 warrants (10 brokers)

Broker warrant terms:  Each broker warrant is non-transferable and is exercisable for one listed share at 72 cents for a two-year period.

Disclosure:  Refer to the prospectus dated Sept. 22, 2025, and company's news releases dated Sept. 18, 2025, Sept. 19, 2025, Sept. 23, 2025, and Sept. 29, 2025.

New listing -- warrants

Effective at the opening on Monday, Oct. 6, 2025, the warrants of the company will commence trading on the TSX Venture Exchange. The company is classified as an oil and gas company.

Corporate jurisdiction:  British Columbia

Capitalization:  up to 34,666,667 warrants, authorized by a warrant indenture dated Sept. 29, 2025, of which 34,210,667 warrants are issued and outstanding

Warrant exercise terms:  Each warrant entitles the holder thereof to acquire one listed share at an exercise price of 72 cents per listed share until Sept. 29, 2027.

Transfer agent:  Odyssey Trust Company

Trading symbol:  RECO.WT.B (new)

Cusip No.:  75624R 17 3 (new)

Disclosure:  Refer to the prospectus dated Sept. 22, 2025, and company's news releases dated Sept. 18, 2025, Sept. 19, 2025, Sept. 23, 2025, and Sept. 29, 2025.

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