Reconnaissance Energy Africa Ltd. (TSE:RECO) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Reconnaissance Energy Africa Ltd. successfully completed a significant public offering, raising C$17.25 million through the sale of over 19 million units, each including a common share and a purchase warrant. The proceeds are earmarked for drilling, construction, and working capital needs. The offering, underwritten by a syndicate led by Research Capital Corporation, also provided warrants that allow holders to purchase additional shares at a future date under certain conditions.
For further insights into TSE:RECO stock, check out TipRanks’ Stock Analysis page.