July 7, 2021 – VANCOUVER, B.C. –Renaissance Oil Corp. (“Renaissance”) (TSX-V: ROE) (OTCQB: RNSFF), in consultation with its Board of Directors, has decided to postpone the annual general and special meeting of securityholders (the “Meeting”) from July 8, 2021 to July 13, 2021 at 10:00 a.m. (Vancouver time), to be held virtually.  The Meeting was called to consider, among other matters, the proposed acquisition of all of the Renaissance’s securities by Reconnaissance Energy Africa Ltd. (the “Transaction”).

The resolution approving the Transaction (the “Arrangement Resolution”) must be passed by: (i) the affirmative vote of at least two-thirds (66 2/3%) of the votes cast by Renaissance shareholders, optionholders and warrantholders, voting as a single class, present in person or represented by proxy at the Meeting and entitled to vote, (ii) the affirmative vote of at least two-thirds (66 2/3%) of the votes cast by Renaissance shareholders present in person or represented by proxy at the Meeting and entitled to vote, and (iii) a simple majority of the votes cast by disinterested shareholders (being shareholders other than Messrs. Telfer, Keep and Steinke) present in person or represented by proxy at the Meeting.

To date, the Arrangement Resolution has received overwhelming support with a total of 90% of votes cast by disinterested shareholders voting in favour of the Arrangement Resolution.

The record date for determining the securityholders eligible to vote at the Meeting will remain the close of business on May 26, 2021. securityholders who have already submitted a proxy do not need to vote again for the postponed Meeting. The updated deadline to vote is 10:00 a.m. (Vancouver time) on July 9, 2021.

Additional information concerning the Meeting can be found in Renaissance’s information circular dated May 27, 2021 (the “Circular”), which should be read in conjunction with Renaissance’s supplement to the Circular dated June 25, 2021 (the “Supplement”). Copies of the Circular and the Supplement are available on Renaissance’s website at www.renaissanceoil.com and under Renaissance’s profile on SEDAR at www.sedar.com.

Renaissance holds an option to acquire a 50% working interest, in all rights from surface to basement, in a large Petroleum Licence, comprising 2.2 million acres in the Kavango sedimentary basin, in Botswana, Africa. The licence operator is Reconnaissance Energy Africa Ltd. Renaissance is an onshore operator in Mexico with 100% working interest in approximately 1200 boe/day.

 Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

RENAISSANCE OIL CORP.
Per:
Craig Steinke
Chief Executive Officer

For further information contact:
Craig Steinke, Chief Executive Officer  |  Tel: 1.604.536.3637