- Relevant Gold (TSXV:RGC) announced a C$15 million capital raise, including investments from high-profile names such as Rob McEwen, Kinross Gold (NYSE:KGC) and William Bollinger
- The junior mining company is focused on opportunities in Wyoming, one of the most prospective jurisdictions in the United States and globally
- Relevant Gold stock has added 37.21 per cent year-over-year
Relevant Gold (TSXV:RGC) announced a C$15 million capital raise, including investments from high-profile names such as Rob McEwen, Kinross Gold (NYSE:KGC) and William Bollinger, the latter pair participating to maintain their 19.9 per cent interests in the company.
Relevant will issue 30 million shares priced at C$0.50 split between a non-brokered private placement and a listed issuer financing exemption offering, with proceeds expected to fund exploration across the company’s district-scale gold projects in Wyoming, including drilling at the Apex and Lewiston projects, geophysical surveys, permitting activities and potential acquisitions.
The 13,887-acre Lewiston project, 65 kilometres southeast of Lander, Wyoming, boasts a more than 10-kilometre mineralized shear zone trend, the presence of four historic mines, as well as historic samples up to 1,690 ounces per ton of gold, with Relevant rock chip samples yielding up to 62 grams per ton of gold and 8.1 per cent copper.
According to Monday’s news release, the financing is expected to include management and other existing shareholders and will close in one or more tranches.
Management commentary
“This financing represents an important step forward for Relevant Gold as we continue advancing our district-scale exploration strategy in Wyoming,” Rob Bergmann, chief executive officer of Relevant Gold, said in a statement. “Over the past several seasons, our team has completed more than 11,000 metres of drilling and a significant amount of systematic geological work that has helped demonstrate the presence of large, widespread gold systems across our land position. The support of strategic investors such as Kinross, along with respected mining investors including William Bollinger and Rob McEwen, reflects growing confidence in both the scale and geological potential of the district and the disciplined approach our team has taken to exploration.”
“With this financing,” Bergmann added, “we are well-positioned to significantly expand drilling at Apex and Lewiston and accelerate our path towards discovery. This capital allows us to meaningfully scale exploration with the goal of advancing towards resource definition and establishing what we believe could become a significant new gold belt in Wyoming.”
About Relevant Gold
Relevant Gold is a junior mining company focused on opportunities in Wyoming, one of the most prospective jurisdictions in the United States and globally. The company is backed by experienced geologists and a team with a proven track record of shareholder value creation.
Relevant Gold stock (TSXV:RGC) opened with a gain of 9.26 per cent trading at C$0.59. The stock has added 37.21 per cent year-over-year.
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