VANCOUVER, BC, May 26, 2023
/CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or
"ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) reports that on May 23, 2023, a shareholder of the Company, filed
a claim pursuant to the Class Proceedings Act against the Company,
in the Supreme Court of British
Columbia, alleging various misrepresentations published in
core and non-core documents.
ReconAfrica will review the claim, but currently has no reason
to believe that there is any merit to the claim.
About ReconAfrica
ReconAfrica is a Canadian oil and gas company engaged in the
opening of the newly discovered deep Kavango Sedimentary Basin in
the Kalahari Desert of northeastern Namibia and northwestern Botswana, where the Company holds petroleum
licences comprising ~8 million contiguous acres. In all aspects of
its operations ReconAfrica is committed to minimal disturbance of
habitat in line with best 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 reviewing the
claim and 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
amended and restated annual information form dated May 19, 2021, available under the Company's
profile at
www.sedar.com. 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.