ReconAfrica cries defamation at stock pumping claims

ReconAfrica cries defamation at stock pumping claims

Reconnaissance Energy Africa has come out swinging at stock pumping article from Canada's The Globe & Mail.

The Canadian newspaper said the company had launched a barrage of promotional articles. It also said two complaints had been submitted to the US and British Columbia regulators “alleging it has engaged in deceptive stock promotion and inadequate disclosures”.

The BC complaint says ReconAfrica had been deficient in its marketing because of its focus on hydraulic fracturing in northern Namibia. This is despite the fact that Namibia has not approved fracking. An unnamed environmental group filed this complaint, the Globe & Mail said.