ReconAfrica Secures C$39M in Public Offering

Reconnaissance Energy Africa (TSE:RECO) has released an update.

Reconnaissance Energy Africa Ltd., known as ReconAfrica, has successfully closed a substantial C$39 million public offering, which includes a C$22 million strategic investment from BW Energy. This financial boost aims to fund the company’s drilling activities, geophysics, 3D seismic planning, and general working capital needs. The offering also resulted in the issuance of Common Shares and Warrants, which will soon trade on the TSX Venture Exchange.

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