On April 3, 2024, Reconnaissance Energy Africa Ltd. (“ReconAfrica”) completed a bought deal public offering of 19,166,705 units at a price of $0.90 per unit for aggregate gross proceeds of approximately $17.25 million, which included the full exercise of the underwriters’ over-allotment option.
The offering was led by a syndicate of underwriters, with Research Capital Corporation as lead underwriter and sole bookrunner, and including Haywood Securities Inc. and Canaccord Genuity Corp.
Cassels acted for ReconAfrica.