Gitennes Closes Non-Brokered Private Placement for Gross Proceeds of $300,000 with a Lead Order from Palisades Goldcorp and Closes Agreements to Acquire Quebec Properties

About this update from Rev Exploration Corp.

[{"type":"text","content":"Gitennes Closes Non-Brokered Private Placement for Gross Proceeds of $300,000 with a Lead Order from Palisades Goldcorp and Closes Agreements to Acquire Quebec Properties(via TheNewswire)\n \n \nVancouver, B.C. - TheNewswire - September 15, 2020 - Gitennes Exploration Inc. (\"Gitennes\" or the \"Company\") (TSXV:GIT) announces that it has closed a $300,000 non-brokered private placement (the \"Private Placement\") with a lead order from Palisades Goldcorp Ltd. and has closed the previously announced acquisition of three gold properties in Quebec. \n\n \n \nPrivate Placement\n\n \n \nThe Private Placement was for 2,500,000 units (each, a \"Unit\") at a purchase price of $0.12 per Unit, for aggregate gross proceeds of $300,000. Each Unit consisted of one (1) common share of the Company (each, a \"Common Share\") and one (1) non-transferable Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to acquire one (1) Common Share of the Company at an exercise price of $0.18 per Common Share for a period of 36 months from the closing date of the Private Placement.\n\n \n \nNet proceeds from the Private Placement are expected to be used to fund exploration and for general and administrative expenses. \n\n \n \nAll securities issued pursuant to the Private Placement are subject to a four month and one day hold period in Canada. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities. \n\n \n \nProperty Acquisition\n\n \n \nFurther to the Company's news release dated June 29, 2020, Gitennes announces that it has closed two binding letters of intent to acquire up to an 85% interest in the RAL and New Mosher properties and a purchase agreement to acquire a 100% interest in the JMW property. The JMW and New Mosher properties are located near the past producing Joe Mann gold mine and the RAL property is located on the eastern boundary of Osisko Mining's Windfall Lake property. \n\n \n \nReaders are cautioned that the Company has no interest in or right to acquire any interest in the Joe Mann mine or the Windfall Lake property, and that mineral deposits and production results from the Joe Mann mine and the Windfall Lake property are not indica...

More updates from Rev Exploration Corp.