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ReconAfrica Announces Completion of Oversubscribed Second Tranche of Private Placement and Agreement With AMW Public Relations
ReconAfrica Announces Completion of Oversubscribed Second Tranche of Private Placement and...
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"\n\n\n\nReconAfrica Announces Completion of Oversubscribed Second Tranche of Private Placement and Agreement With AMW Public Relations\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 23, 2019\n\n\n\n/NOT FOR DISSEMINATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATES OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA./\n VANCOUVER, Dec. 23, 2019 /CNW/ - Reconnaissance Energy Africa Ltd. (the \"Company\" or \"ReconAfrica\") (TSX-V: RECO) is pleased to announce that it has completed a second tranche (\"Second Tranche\") of its previously announced non-brokered private placement financing (the \"Private Placement\"). ReconAfrica is also pleased to announce that, subject to approval from the TSX Venture Exchange, the Company has agreed to engage AMW Public Relations Inc. (\"AMW\") to provide media relations and consulting services to the Company (collectively, the \"Services\") pursuant to a consulting agreement dated December 18, 2019. \n\n \n \n\n \nSecond Tranche Private Placement\nFurther to the Company's press release dated December 19, 2019, ReconAfrica has completed the Second Tranche of its Private Placement raising gross proceeds of Cdn$680,899.64 through the issuance of 2,002,646 units (each, a \"Unit\") of the Company at Cdn$0.34 per Unit.  Each Unit issued in the Second Tranche is comprised of one common share of the Company and one common share purchase warrant (each, a \"Warrant\"), with each Warrant being exercisable into one common share of the Company at an exercise price of Cdn$0.50 per share until the expiry of the Warrants at the close of business on the day that is five years from when the certificate was issued.\nOn December 6, 2019, the Company previously closed a first tranche of the Private Placement for gross proceeds of Cdn$884,000.  The Private Placement was originally to comprise of an offering of up to 4,411,765 Units for gross proceeds of up to Cdn$1,500,000.  However, t...