On June 17, 2025, Reconnaissance Energy Africa Ltd. (“ReconAfrica”) completed its upsized underwritten public offering of units of ReconAfrica at a price of $0.50 per unit, including the full exercise of the over-allotment option, for aggregate gross proceeds of approximately $19 million.
The offering was conducted by a syndicate of underwriters, with Research Capital Corporation as lead underwriter and sole bookrunner, and including Canaccord Genuity Corp. and Haywood Securities Inc.
Cassels acted for ReconAfrica.