TSX VENTURE COMPANIES
BULLETIN V2026-0316
RECONNAISSANCE ENERGY AFRICA LTD. ("RECO") ("RECO.WT.C")
BULLETIN TYPE: Private Placement- Brokered, New Listing-Warrants
BULLETIN DATE: January 27, 2026
TSX Venture Tier 2 Company
Financing Type: Brokered Private Placement (LIFE Offering).
Gross Proceeds: $36,800,098
Offering: 38,736,945 Units and 19,368,473 Listed Warrants. Each Unit comprised of 1 Listed Share and one-half of one Listed Warrant.
Offering Price: $0.95 per Unit
Warrant Exercise Terms: $1.20 per Listed Share for a 3-year period.
Overallotment Option: The underwriters exercised the over-allotment option in full. All information presented herein includes such exercise.
Commissions in Securities: The brokers received 2,163,165 Broker and Advisory warrants for their services rendered.
Broker Warrants:
#Broker Warrants
(Aggregate # of Brokers: 3) 2,163,165
Broker Warrant Terms: Each Broker and Advisory Warrant is non-transferable and exercisable for one Listed Share at $0.95 for a 3-year period (Expiring Jan 19, 2029).
Effective at the opening on Thursday, January 29, 2026, the Warrants of the Company will commence trading on TSX Venture Exchange. The Company is classified as an 'Oil & Gas' company.
Corporate Jurisdiction: British Columbia
Capitalization: Up to 19,368,473 Warrants, authorized by a Warrant Indenture dated January 19, 2026 of which 19,368,473 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 $1.20 per Listed Share, until January 19, 2029.
Transfer Agent: Odyssey Trust Company
Trading Symbol: RECO.WT.C (NEW)
CUSIP Number: 75624R 18 1 (NEW)
Disclosure: Refer to the offering document dated January 7, 2026 and company's news release(s) dated January 6, 2026, January 7, 2026 and January 19, 2026.
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