/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATOIN IN THE UNITED
STATES./
VANCOUVER, BC, July 26, 2021 /CNW/ - Reconnaissance Energy
Africa Ltd. ("ReconAfrica") (TSXV: RECO) (OTCQX: RECAF)
(Frankfurt: 0XD) and Renaissance
Oil Corp. ("Renaissance") (TSXV: ROE) (OTCQB: RNSFF) announce that
completion of the acquisition by ReconAfrica of Renaissance,
previously announced on each of April
19, May 19 and July 15, is anticipated to occur on or about
July 27, 2021.
ReconAfrica has received the acceptance of the TSX
Venture Exchange ("TSXV") to list the common shares of
ReconAfrica to be issued to Renaissance shareholders on
the TSXV. The common shares of Renaissance are expected to be
delisted from the TSXV at the close of trading a couple
of days following closing, and Renaissance intends to submit
an application to the applicable securities regulators to cease to
be a reporting issuer and to terminate its public reporting
obligations.
None of the securities to be issued pursuant to the
Arrangement have been or will be registered under the United State
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
any state securities laws, and any securities issued in the
Arrangement are anticipated to be issued in reliance upon available
exemptions from such registration requirements pursuant to Section
3(a)(10) of the U.S. Securities Act and applicable exemptions under
state securities laws. This press release does not constitute an
offer to sell or the solicitation of an offer to buy any
securities.
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 ReconAfrica holds
petroleum licenses comprising approximately 8.5 million contiguous
acres. In all aspects of its operations, ReconAfrica 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.
Neither the TSXV nor its regulation services provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
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
anticipated closing date of the acquisition, the delisting of the
common shares of Renaissance and the applications for Renaissance
to cease to be a reporting issuer. 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 and
Renaissance'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 ReconAfrica's and
Renaissance's actual results and future events could differ
materially from those anticipated in these forward-looking
statements. Factors that could cause actual results and future
events to differ materially from those anticipated in these
forward-looking statements are set forth in the "Risk Factors"
section in ReconAfrica's amended and restated annual information
form dated May 19, 2021 available
under ReconAfrica's profile at www.sedar.com and in the "Risk
Management and Rick Factors" section in Renaissance's management's
discussion and analysis for the year ended December 31, 2020. 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 and Renaissance. The forward-looking
information contained in this news release is made as of the date
hereof and ReconAfrica and Renaissance undertake 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 Renaissance Oil Corp.
