ReconAfrica prices bought-deal offering at C$15 million for Kavango West 1X sidetrack, production testing

Reuters2026/09/01 23:44

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Reconnaissance Energy (Africa) launched a bought-deal public offering to raise about C$ 15 million for its Kavango West 1X program.
Deal covers 20,548,000 units priced at C$ 0.73; each unit includes one share plus a half-warrant.
Warrants carry a C$ 0.93 exercise price, expire in 36 months; the company seeks TSXV listing for the warrants.
Proceeds fund an open-hole horizontal sidetrack, production testing targeting the Huttenberg formation, with optional work on the Elandshoek formation.
Closing is expected around Sept. 10, 2026; underwriters hold a 15% over-allotment option for 30 days.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Reconnaissance Energy (Africa) Ltd. published the original content used to generate this news brief via Newsfile (Ref. ID: 202609011943NEWSFILECNPR____20260901_312491_1) on September 01, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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ReconAfrica prices bought-deal offering at C$15 million for Kavango West 1X sidetrack, production testing

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