Business
Revival Gold Announces Increase to Previously Announced Bought Deal Financing to C$13 Million
TORONTO, July 21, 2020 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and
About this update from Revival Gold Inc
[{"type":"text","content":" TORONTO, July 21, 2020 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces that, due to strong demand, the Company has increased the size of its previously announced public offering to 11,900,000 units (the “Units”) at a price of C$1.10 per Unit for aggregate gross proceeds of approximately C$13 million (the “Offering”). The Offering was led by BMO Capital Markets as sole underwriter (“BMO” or the “Underwriter”). Each Unit consists of one common share (“Common Share”) of Revival Gold and one-half of one common share purchase warrant (each whole common share purchase warrant a “Warrant”) of Revival Gold. Each full Warrant will entitle the holder thereof to purchase one Common Share of the Company at a price of $1.60 per Common Share, for a period of 18 months following the Closing Date. The Company has granted the Underwriter an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Underwriter can elect to exercise the Over-Allotment Option for Units only, common shares only, or warrants only, or any combination thereof. The offering is expected to close on or about August 6, 2020 and is subject to Revival Gold receiving all necessary regulatory approvals. The net proceeds of the offering 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 Units will be offered by way of a short form prospectus in all provinces of Canada, excluding Quebec and may also be offered by way of private placement in the United States. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Revival Gold Inc. Revival Gold Inc. is a growth-focused gol...