Reconnaissance Energy (Africa) Ltd V.RECO

Doug Allen invests $700.000 in ReconAfrica !

[Flintstone60]

Strong sign!
If he knew the hole was dry he would of just cashed in on 700k knowing that they can’t sell because they are in a blackout. By the time he would be able to sell he would be out another 700k. So someone who has more information then us, invests 700.000 dollars in shares he is not allow to sell because he had inside information.

Date	Issuer	Insider	Transaction	Amount	New Balance
Recent filings
Filed 2021-03-16 21:33   Tx date 2021-03-15	$RECO Reconnaissance Energy Africa Ltd.	Allen, Douglas Raymore 5 - Senior Officer of Issuer Direct Ownership	Common Shares 54 - Exercise of warrants	$700,000 +700,000 vol $1.00 each	1,452,000

[GorgeousGeorge1]

Agreed. He'd only be allowed to sell after they announce drill results. If they drilled a duster why spend the money exercising the warrant?

[juniorbullalive]

This post has been removed in accordance with Community Policy

[Bpultra]

Is there a lock up period on these warrants after they are exercised ?    It  has to be stated not just he can't sell because he has inside info ... shares are bought and sold every day  with knowiing inside info ?   =============

[Bpultra]

https://www.sedar.com/GetFile.do?lang=EN&docClass=9&issuerNo=00008235&issuerType=03&projectNo=03091128&docId=4778044  Not 100% clear that there is a 90 day lock up... someone on here must have exercised thier warrants and would have been told about a lock of period or not ?  ============

[derpa]

There is no 90 day lock up. You can exercise and sell immedfiately. That is not to say that Doug Allen won't be barred from selling due to the black-out period.

[Bpultra]

================ Thanks