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RECONAFRICA ANNOUNCES C$38.1 MILLION BOUGHT DEAL OFFERING
RECONAFRICA ANNOUNCES C$38.1 MILLION BOUGHT DEAL OFFERING Canada NewsWire ...
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"\n \n \n \n RECONAFRICA ANNOUNCES C$38.1 MILLION BOUGHT DEAL OFFERING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n \n \n \n VANCOUVER, BC\n \n ,\n \n Feb. 8, 2022\n \n /CNW/ - Reconnaissance Energy Africa Ltd. (the \"Company\" or \"ReconAfrica\") (TSXV: RECO) (OTCQX: RECAF) (\n \n Frankfurt\n \n : 0XD) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (the \"Underwriter\"), acting as lead underwriter and sole bookrunner, pursuant to which the Underwriter has agreed to purchase, on a bought deal basis, an aggregate of 6,000,000 units of the Company (the \"Units\") at a price of\n \n C$6.35\n \n per Unit (the \"Issue Price\") for aggregate gross proceeds to the Company of\n \n C$38,100,000\n \n (the \"Offering\").\n \n \n \n \n \n \n \n \n \n Each Unit will consist of one common share of the Company (a \"Common Share\") and one common share purchase warrant of the Company (a \"Warrant\"). Each Warrant will be exercisable to acquire one Common Share (a \"Warrant Share\") until\n \n October 31, 2022\n \n at an exercise price of\n \n C$9.00\n \n , subject to adjustment in certain events. The Warrants will be subject to acceleration of the expiry date to a date 30 calendar days following notice to be provided to the holders of the Warrants by the Company in the event that the moving daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the \"Exchange\") over any period of 20 consecutive trading days equals or exceeds\n \n C$14.00\n \n .\n \n \n The Company has granted the Underwriter an over-allotment option to purchase up to an additional 900,000 Units at the Issue Price, exercisable in whole or in part, to be completed concurrently with the closing of the Offering to cover over-allotments, if any, and for market stabilization purposes. If the over-allotment option is exercised in full, an additional\n \n C$5,715,0...