ReconAfrica Appoints Mark Gerlitz to the Board of Directors

CISION

Wednesday, February 17, 2021, 10:01 PM MST

VANCOUVER, BC, Feb. 18, 2021 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSX-V: RECO) (OTC: LGDOF) (Frankfurt: 0XD) is pleased to announce that Mark Gerlitz has joined the Board of Directors of the Company. 

Mark Gerlitz is the Principal of Canadian based MonteLago Consulting which provides advisory services to the International Energy Industry. Mr. Gerlitz has over 20 years' experience advising States, national energy companies and international energy companies across the entire energy value chain.  His expertise comprises numerous important areas, including: financing, strategic planning, mergers and acquisitions, joint ventures, partnerships, farm-ins and other business combinations, energy marketing sales, as well as environmental, social and governance matters.  His experience spans most of the resource-rich regions and major financial centres around the globe.

Mr. Gerlitz played a vital role in establishing the Annual Sino-Canadian Oil and Gas Symposium in Calgary, Canada, and is an active member of the Association of International Petroleum Negotiators.

Mr. Gerlitz has served on or worked with boards of directors and committees of public and private companies in various industries throughout the international capital markets. He has advised special committees on hostile and friendly business combinations, including multi-billion-dollar international energy transactions requiring foreign investment approvals. Mr. Gerlitz' committee work includes membership on: audit, human resources, compensation, governance, nomination and special committees, and he has often held the role of committee or meeting chair. Mr. Gerlitz is an active member of the Institute of Corporate Directors and the National Association of Parliamentarians. Mr. Gerlitz holds a Masters of Business Administration (Banking) from the University of London and a Juris Doctor, Bachelor of Science (Biology), and Bachelor of Arts (Political Science) from the University of Calgary. 

"I am pleased to welcome Mark Gerlitz to the Board," said Scot Evans, ReconAfrica CEO. "I also want to thank Shiraz Dhanani for his service to the Company as a director and for guiding the Company to its current stage. Mr. Dhanani will continue as a consultant to the Company providing ongoing technical advice, and as a member of our new Advisory Committee."

ReconAfrica is a junior 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 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 policies of the TSXV) accepts responsibility for the adequacy or accuracy of this 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 grant of stock options to Proconsul upon the Agreement being extended beyond the initial six month term. 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. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements as a result of the factors discussed in the "Risk Factors" section in the Company's annual information form dated July 27, 2020 available under the Company's profile at www.sedar.com. 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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