Kolibri Global Energy Inc. press release

RECONAFRICA RESPONDS TO NOTICE OF CIVIL CLAIM

2023-05-26

TSX - Toronto Stock Exchange · United States · Legal Matters

Canada NewsWire

VANCOUVER, BC , May 26, 2023 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) ( Frankfurt : 0XD) reports that on May 23, 2023 , a shareholder of the Company, filed a claim pursuant to the Class Proceedings Act against the Company, in the Supreme Court of British Columbia , alleging various misrepresentations published in core and non-core documents.

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ReconAfrica will review the claim, but currently has no reason to believe that there is any merit to the claim.

About ReconAfrica

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 the Company holds petroleum licences comprising ~8 million contiguous acres. In all aspects of its operations ReconAfrica is committed to minimal disturbance of habitat in line with best international 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 Company reviewing the claim and the Company's commitment to minimal disturbance of habitat, in line with best international standards and its implementation of environmental and social best practices in all of its project areas. 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 amended and restated annual information form dated May 19, 2021 , 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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