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Revival Gold Announces $10 Million Non-Brokered Private Placement Financing
TORONTO, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), announces a non-brokered private place
About this update from Revival Gold Inc
[{"type":"text","content":"TORONTO, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), announces a non-brokered private placement of 15,000,000 units (the “Units”) at $0.65 per Unit (the “Issue Price”) for gross proceeds of up to $9,750,000 (the “Financing”). Each Unit will consist of one (1) common share (each a “Common Share”) of the Company and one half of one (0.5) common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant is exercisable into one (1) Common Share at a price of $0.90 at any time for a period of twenty-four (24) months following the closing of the Financing. “With this Financing we are very pleased to welcome deep value institutional investor, Donald Smith Value Fund, LP, as a new cornerstone shareholder and position Revival Gold for the Company’s next phase of growth,” said Hugh Agro, President & CEO. The Financing will include an over-allotment option (the “Over-Allotment Option”) pursuant to which the Company may offer for sale up to an additional 3,000,000 Units at the Issue Price, exercisable in whole or in part at any time up to the closing of the Financing. If the Over-Allotment Option is fully exercised, the total gross proceeds of the Financing would be approximately $11,700,000. Closing is expected on or about January 25th, 2022. The Company may pay finders fees to eligible finders in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”). Net proceeds of the Financing will be used for further exploration and development of the Company’s Beartrack-Arnett Gold Project located in Idaho, USA and for general corporate purposes. The securities issuable pursuant to the Financing will be subject to a four month and one-day statutory hold period in accordance with applicable securities laws. The Financing is subject to the receipt of all necessary regulatory approvals, including the approval of the Exchange. All dollar amounts including the symbol “$”, are expressed in Canadian dollars. The securities offered pursuant to the Financing have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state security laws, and may not be offered or sold in the United States without ...