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ReconAfrica Report 2019 Annual Results
ReconAfrica Report 2019 Annual Results Canada NewsWire VANCOUVER, April 28, 2020...
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"\n\n\n\nReconAfrica Report 2019 Annual Results\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, April 28, 2020\n\n\n\nVANCOUVER, April 28, 2020 /CNW/ - Reconnaissance Energy Africa Ltd. (the \"Company\" or \"ReconAfrica\") (TSX-V: RECO) (OTC: RECAF) (Frankfurt: 0XD) reports its fourth quarter and full year 2019 results. The audited financial statements and management discussion and analysis for the year ended December 31, 2019 will be available on the System for Electronic Document Analysis and Retrieval (\"SEDAR\") at www.sedar.com and on ReconAfrica's website at www.reconafrica.com. All dollar figures are in Canadian Dollars, unless otherwise noted.\n\n \n \n \n \n \n \n\n \nHIGHLIGHTS FOR THE YEAR ENDED DECEMBER 31, 2019\nEffective August 30, 2019, the Company underwent a reverse takeover transaction (\"RTO\") and was listed on the TSX Venture Exchange under the symbol RECO. Concurrent with the RTO, ReconAfrica completed a non-brokered private placement of 17,053,280 units of the Company at $0.20 per unit for aggregate gross proceeds of $3,410,656. ReconAfrica received its Environmental Clearance Certificate (\"Drilling Permit\") from the Office of the Environmental Commissioner, Namibia Ministry of Environment and Tourism, covering the entire PEL 73 permit in northeastern Namibia. The Drilling Permit authorizes ReconAfrica to commence drilling of numerous wells, to unrestricted depths, in the newly discovered Kavango Basin, in Namibia, until August 26, 2022. In December 2019, the Company completed a non-brokered private placement of 4,602,646 units of the Company at $0.34 per unit for aggregate gross proceeds of $1,564,900.CEO'S MESSAGE\n2019 was a landmark year for ReconAfrica as it completed an RTO and, in the process, became listed on the TSX Venture Exchange leading to the raising of $5.0 million in capital to fund ongoing exploration and evaluation activities in Namibia. In December 2019, Namibia's Minister of Energy and Mines confirmed that ReconAfrica's exploration licence covering its rights in the Kavango Basin had been appr...