- Relevant Gold (TSXV:RGC) has entered into an agreement with Kinross Gold (TSX:K) for the purpose of a $1.53 million private placement
- The placement, which includes 5.1 million shares at C$0.30 per share, represents a separate follow-up financing to a previous private placement
- Funds will be used for exploration activities at the company’s projects in Wyoming and for general working capital
- Shares of Relevant Gold are up 6.67 per cent to C$0.32 as of 10:17 am ET
Relevant Gold (TSXV:RGC) has entered into an agreement with Kinross Gold (TSX:K) for the purpose of a $1.53 million private placement.
In a news release, the company stated the placement, which includes 5.1 million shares at C$0.30 per share, represents a separate follow-up financing to a previous private placement.
Funds from the placement will be used to fund exploration activities at Relevant Gold’s projects in Wyoming as well as for general working capital.
“Kinross’s strategic investment represents a strong vote of confidence in our team’s Wyoming exploration vision and ability to execute in the field. We are thrilled to welcome them as a major shareholder and strategic partner,” Rob Bergmann, CEO of Relevant Gold, said in a statement. “This investment marks a key milestone for Relevant, expanding our technical depth, strengthening our corporate structure and bolstering our treasury. We look forward to immediately leveraging this new relationship in our upcoming drilling program.”
Each share will consist of one common share of the company and a one-half share purchase warrant, which will entitle the holder to purchase an additional common share of Relevant Gold at $0.35 per share for 24 months from the issue date.
Once the placement is in effect, Kinross Gold will hold roughly 9.9 per cent of Relevant Gold’s issued and outstanding common shares on a partially diluted basis.
With headquarters out of Vancouver, Relevant Gold is a gold exploration company focused on the acquisition, exploration, discovery and development of district-scale gold projects in Wyoming.
Shares of Relevant Gold Corp. (TSXV:RGC) are up 6.67 per cent to C$0.32 as of 10:17 am ET.
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