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Revival Gold Announces C$3 Million Non-Brokered Private Placement Financing
TORONTO, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”), is pleased to announce its intention t
About this update from Revival Gold Inc
[{"type":"text","content":" TORONTO, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”), is pleased to announce its intention to complete a non-brokered private placement of up to 5,000,000 units of the Company (the “Units”) at a price of C$0.60 per Unit (the “Issue Price”) for gross proceeds of up to C$3,000,000 (the “Financing”). Each Unit will be comprised of one (1) common share of the Company (a “Common Share”) and one half of one (0.5) Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one (1) Common Share (a “Warrant Share”) at an exercise price of C$0.80 per Warrant Share at any time for a period of twenty-four (24) months following the closing of the Financing. “With this financing, Revival Gold is taking the opportunity to top up the Company’s year end cash balance ahead of what is expected to be a very busy 2023”, said Hugh Agro, President & CEO. The Company reserves the right to increase the size of the Financing by up to 25% of the size of the Financing (the “Upsize Option”) pursuant to which the Company may offer for sale up to an additional 1,250,000 Units at the Issue Price. The Upsize Option may be exercised in whole or in part in the Company’s sole discretion at any time up to the closing of the Financing. If the Financing is fully subscribed and the Upsize Option is exercised in full, the total gross proceeds of the Financing is expected to be approximately C$3,750,000. Closing is expected on or about December 28th, 2022. The Company may pay finders fees to eligible finders in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”). The net proceeds of the Financing will be used to fund on-going exploration and development at the Company’s core Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Lemhi County, Idaho and for general corporate purposes. The Financing is subject to the receipt of all required regulatory approvals including the approval of the Exchange. All securities to be issued and issuable pursuant to the Financing will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The securities offered have not been registered under the U.S. Securities A...