Reconnaissance Energy (Africa) Ltd V.RECO

It’s all good.

[Turned2Gold]

Doug Allen is up C$3.7M dollars from August on his bought deal purchase. In addition, he's drawn what I’m sure was a comfortable salary and has been issued stock options that are already deep in the money. That's a darn good win in just 8 months. But we know all too well that it's only a win on paper. We also know it's bad optics for ReconAfrica to have an insider cash out, especially at this stage of the project. My belief is that Doug has always planned to leave after the warrants expired, however this took place much sooner than expected. Having now left the company he has total control of his portfolio and can diversify if he so wishes. So this is not negative news in my view. With $30m in the treasury the company can focus on oil exploration and JVs. Bravo Doug!

[caliche]

doug never answered a single email from me maybe he was let go with cause.. good riddance i say.. maybe the next person will reply to emails.. after all thats what he was paid to do

[Turned2Gold]

I don’t believe Doug’s departure has anything to do with the legalities of him exercising his warrants. He was the man behind raising the C$22M last summer, promoting the company and overseeing the warrant closing last week. He was issued these warrants in August 2020 when he personally purchased 700k shares in the bought deal and he had every right to do what he did. If Doug didn’t exercise

[jwa444]

This is the most sensible post I've seen on this subject.  The whole discussion about Doug Allen, his warrants and shares, and his leaving the company is a big waste of time.  If you understand warrants and their expiration and conversion, there's nothing unusual here and certainly nothing illegal or immoral.  If you have to yap about something you don't understand, find