On May 27, 2021, Reconnaissance Energy Africa Ltd. (the "Company") closed its bought deal offering (the "Offering") of units (the "Units") for gross proceeds of C$41,401,380, including the full exercise of the over-allotment option in the amount of C$5,400,180. The Offering was completed by way of a short form prospectus filed in all of the provinces of Canada, except Québec, and the Units were sold elsewhere outside of Canada on a private placement basis.
Pursuant to the Offering, a total of 4,358,040 Units were sold at a price of $9.50 per Unit. Each Unit consisted of one common share in the capital of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of C$14.00 until May 27, 2024, subject to certain acceleration rights.
The Offering was made through Haywood Securities Inc. as sole underwriter and bookrunner (the "Underwriter").
The Underwriter was advised by Sarah Gingrich, Mark Kopitar, Bill deJong and Aman Marwaha (Capital Markets and Securities).Jurisdictions
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Saskatchewan
