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ReconAfrica Announces Upsize of Underwritten Offering to C$18 Million for the Advancement of Operational Activities on its Ngulu Block, Offshore Gabon, and Provides a Drilling Update on the Kavango West 1X Exploration Well
The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, through SEDAR+Calgary, Alberta--(Newsfile Corp. - September 19, 2025) - Reconnaissance Energy Africa Ltd. (TSXV: RECO) (OTCQX: RECAF) (FSE: 0XD) (NSX: REC) (the "Company" or "ReconAfrica" or "Recon") announces that, in connection with its previously announced overnight marketed public offering of units of the Company (the "Units"), it has increased the size of the offering due to..
About this update from Recharge Metals Limited
[{"type":"text","content":"The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, through SEDAR+","length":130,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - September 19, 2025) - Reconnaissance Energy Africa Ltd. (TSXV: RECO) (OTCQX: RECAF) (FSE: 0XD) (NSX: REC) (the "Company" or "ReconAfrica" or "Recon") announces that, in connection with its previously announced overnight marketed public offering of units of the Company (the "Units"), it has increased the size of the offering due to strong investor demand and it has entered into an underwriting agreement with Research Capital Corporation as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase 30,000,000 Units at a price of C$0.60 per Unit for aggregate gross proceeds of C$18,000,000 (the "Offering").","length":899,"tagName":"p"},{"type":"text","content":"ReconAfrica's strategic partner, BW Energy Limited, will be investing alongside other investors in the Offering.","length":116,"tagName":"p"},{"type":"text","content":"Each Unit will be comprised of one common share of the Company ("Common Share") and one Common Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of C$0.72 at any time up to 24 months from closing of the Offering. In addition, the Company will use commercially reasonable efforts to obtain the necessary approvals to list the Warrants on the TSX Venture Exchange (the "Exchange").","length":506,"tagName":"p"},{"type":"text","content":"The net proceeds from the Offering will be used for activities related to the advancement of appraisal and exploration expenses related to the Ngulu Production Sharing Contract ("PSC"). This will include acquiring geological and geophysical studies, reprocessing of the 3D seismic data, the advancement of the initial development well in the existing proven oil discovery at the Loba Complex and for general corporate purposes and work...