On September 10, 2026, Reconnaissance Energy Africa Ltd. completed an upsized bought-deal public offering of 29,932,200 units of the company at a price of $0.73 per unit for aggregate gross proceeds of approximately $21.8 million, including the full exercise of the over-allotment option.
The offering was led by Research Capital Corporation as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Canaccord Genuity Corp. and ATB Cormark Capital Markets.
Cassels acted for ReconAfrica.