CALGARY,
AB, Aug. 9, 2024 /CNW/ - Reconnaissance Energy
Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX:
RECAF) (Frankfurt: 0XD) provides
disclosure of incentive stock option grants.
Stock Option Grants
The Company announces that it has granted incentive stock
options (the "Options") to certain directors and officers of
the Company to acquire an aggregate of 3,825,000 common shares in
the capital of the Company at an exercise price of $1.40 per share in accordance with the Company's
Stock Option Plan. The Options are exercisable for a five-year term
expiring August 9, 2029, and will be
subject to certain vesting provisions as determined by the board of
directors of the Company. The Options are subject to restrictions
on resale until December 9, 2024, in
accordance with the policies of the TSX Venture Exchange.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the
exploration of the Damara Fold Belt and Kavango Rift Basin in the
Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum
licenses comprising ~8 million contiguous acres. In all aspects of
its operations ReconAfrica is committed to minimal disturbance of
habitat in line with international standards and will implement
environmental and social best practices in all of its project
areas.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Statements:
Certain statements contained in this press release constitute
forward-looking information under applicable Canadian, United States and other applicable securities
laws, rules and regulations, including, without limitation,
statements with respect to the Company's commitment to minimal
disturbance of habitat, in line with best international standards
and its implementation of environmental and social best practices
in all of its project areas. These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on ReconAfrica's current belief or
assumptions as to the outcome and timing of such future events.
There can be no assurance that such statements will prove to be
accurate, as the Company's actual results and future events could
differ materially from those anticipated in these forward-looking
statements as a result of the factors discussed in the "Risk
Factors" section in the Company's annual information form dated
July 29, 2024, available under the
Company's profile at www.sedarplus.ca. Actual future results may
differ materially. Various assumptions or factors are typically
applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to ReconAfrica. The forward-looking information
contained in this release is made as of the date hereof and
ReconAfrica undertakes no obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
SOURCE Reconnaissance Energy Africa Ltd.
