ReconAfrica Announces New Chief Financial Officer and Corporate Secretary

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VANCOUVER, Jan. 15, 2020 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSX-V: RECO) (OTC: LGDOF) (Frankfurt: 0XD) advises that Carlos Escribano  has been appointed as Chief Financial Officer and Anna Tudela has been appointed as Corporate Secretary, both effective January 15, 2020.

Carlos Escribano has over 12 year's experience in senior level financial management and has served as CFO for a number of publicly traded multi-national corporations in the resource sector. He has demonstrated ability in successfully managing key aspects of finance, accounting and administration, including debt and equity financing, financial reporting and compliance, budgeting and treasury.  Mr. Escribano is a Chartered Professional Accountant and a graduate of the University of British Columbia.

Anna Tudela has over 20 years of experience working with Board of Directors as Corporate Secretary of Goldcorp Inc.; Wheaton Precious Metals (formerly Silver Wheaton Corp.) and Diamond Fields Resources Inc.  In those roles, she has developed and implemented Board guidelines, terms of reference for the Board of Directors and Committees of the Board and other policies. Anna has received a number of awards related to her work, including the Peter Dey Governance Achievement Award (2013), the Scotiabank Ethical Leadership Award (2016), the Governance Award for Best Practices to Enhance Boardroom Diversity from the Governance Professionals of Canada (2018) and the Executive of the Year (Western Canada) from the Canadian Center for Diversity and Inclusion (2019).

Jay Park, CEO of ReconAfrica said, "I would like to welcome Carlos Escribano to the ReconAfrica executive team.  His energy and experience in corporate finance, financial administration and governance will be a major asset to the Company as it executes its operations in the Kavango Basin."

He added, "I want to express my gratitude to Ian Brown for his solid commitment to the Company's financial affairs during the Company's recent reverse takeover and related financings."

"Anna Tudela is an excellent addition to the ReconAfrica team," stated Jay Park. "She has over 30 years of experience working with public companies in securities and corporate finance, responsible for compliance and securities filings requirements in both Canada and United States.  We also welcome her focus and leadership on issues of diversity and inclusion."

Jay Park added, "I also would like to express our appreciation to Liz Anderson for her essential role as Corporate Secretary during the Company's recent reverse takeover and related financings.  I speak on behalf of the entire Board of Directors in wishing her all the best in the future."      

On January 14, 2020, the Company experienced an unusual amount of trading activity during the course of the trading day. The Company advises that there has been no material changes in relation to its business affairs, operations or assets which has not been previously disclosed that would have caused such trading activities.

ReconAfrica is a junior oil and gas company engaged in the development of the newly discovered Kavango Sedimentary Basin, in northeast Namibia, where the Company holds a 90% working interest in a petroleum licence, comprising approximately 6.3 million contiguous acres.

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 Statements: Certain statements contained in this press release constitute forward-looking information. 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. 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.

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