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Reconnaissance Energy Africa Ltd
Symbol RECO
Shares Issued 156,808,071
Close 2021-06-22 C$ 12.60
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Reconnaissance calls out Globe article as defamatory

2021-06-22 09:38 ET - News Release

Mr. Scot Evans reports

RECONAFRICA RESPONDS TO THE GLOBE AND MAIL'S RECENT INACCURATE AND DEFAMATORY ARTICLE

Reconnaissance Energy Africa Ltd. has provided a factual response to The Globe and Mail's false and defamatory article dated June 20, 2021.

The Globe and Mail's false allegations

The Globe and Mail article published on June 20, 2021, attacks Reconnaissance Energy and Canada's securities regulators and regulations, not on the basis of a complaint from stockholders, but because clandestine environmental activists -- who refused to be identified for the story -- are seeking to disrupt the company's promising operations in Namibia by any means necessary.

In their disruptive activities against Reconnaissance Energy and the Canadian securities regulators, these environmentalists found a willing collaborator in The Globe and Mail, which sought to lend credence to their false claims by misrepresenting the company's programs and intentions, including its opening of a new office in Calgary. Reconnaissance Energy remains headquartered in British Columbia and is opening a new operations office in Calgary that will not change the company's regulatory jurisdiction.

Such disruptive activities are an attempt to negatively impact Reconnaissance Energy's share price to the benefit of short-sellers. As published by shortdata, Reconnaissance Energy has the largest declared short position of all TSX Venture Exchange companies.

After refusing to provide Reconnaissance Energy with the environmental activist's purported British Columbia Securities Commission's complaint, The Globe and Mail eagerly repeated false and defamatory allegations within its article and intentionally prevented Reconnaissance Energy from responding. Reconnaissance Energy will be seeking a correction of the article and it will continue to work with securities regulators to ensure compliance with all applicable securities laws and regulations, just as it has done in the past.

About Reconnaissance Energy Africa Ltd.

Reconnaissance Energy 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 approximately 8.5 million contiguous acres. In all aspects of its operations, Reconnaissance Energy is committed to minimal disturbances in line with international best standards and will implement environmental and social best practices in all of its project areas.

We seek Safe Harbor.

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