TSX VENTURE COMPANIES
BULLETIN V2025-1820
RECONNAISSANCE ENERGY AFRICA LTD. ("RECO") ("RECO.WT") ("RECO.WT.A")
BULLETIN TYPE: Prospectus-Unit Offering, New Listing-Warrants
BULLETIN DATE: June 23, 2025
TSX Venture Tier 2 Company
Financing Type: Overnight Marketed Prospectus Offering
Gross Proceeds: $18,975,000.00
Offering: 37,950,000 Listed Shares with 37,950,000 Warrants
Offering Price: $0.50 per Listed Share
Warrant Exercise Terms: $0.60 per Listed Share for a 2-year period.
Overallotment Option: The underwriters may purchase a maximum of 4,950,000 Listed Shares and 4,950,000 Warrants for overallotment purposes. As of June 17, 2025, such option has been exercised in full. All information presented herein includes such exercise.
Commissions in Securities: Warrants
Research Capital Corporation (Lead) 1,280,228
Canaccord Genuity Corp. 638,740
Haywood Securities Inc. 205,785
Scotia Capital Inc. 875
TD Securities Inc. 875
Desjardins Securities Inc. 3,500
Leede Financial Inc. 80,500
Friedberg Mercantile Group Ltd. 1,050
Ventum Financial Corp. 12,600
Lakeshore Securities Inc. 12,250
Wellington-Altus Financial Inc. 5,250
Richardson Wealth Limited 700
National Bank Financial Inc. 3,500
Commission Terms: Each non-transferable Warrant is exercisable for one Common Share at $0.50 for a 2-year period.
Disclosure: Refer to the prospectus dated June 6, 2024 and company's news release(s) dated June 2, 2025, June 5, 2025 and June 17, 2025.
New Listing-Warrants
Effective at the opening on Wednesday, June 25, 2025, the Warrants of the Company will commence trading on TSX Venture Exchange. The Company is classified as an 'Oil & Gas' company.
Corporate Jurisdiction: Alberta
Capitalization: 37,950,000 Warrants, authorized by a Warrant Indenture dated June 17, 2025 of which 37,950,000 Warrants are issued and outstanding.
Warrants Exercise Terms: Each Warrant entitles the holder thereof to acquire one (1) Listed Share at an exercise price of $0.60 per Listed Share, until June 17, 2027.
Transfer Agent: Odyssey Trust Company
Trading Symbol: RECO.WT.A (new)
CUSIP Number: 75624R 16 5 (new)
Disclosure: Refer to the prospectus dated June 6, 2025 and company's news release(s) dated June 2, 2025, June 5, 2025 and June 17, 2025.
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