- REV Exploration (TSXV:REVX) closed on C$5.8 million in non-brokered private placements, including an investment from celebrated mining investor Eric Sprott
- The mineral exploration company is primarily focused on hydrogen discoveries along the Alberta-Montana border and gold discoveries in Quebec
- REV Exploration stock last traded at C$0.59 and has added 31.11 per cent year-over-year
REV Exploration (TSXV:REVX), a junior gold and hydrogen company, closed on C$5.8 million in non-brokered private placements, including an investment from celebrated mining investor Eric Sprott.
Transactions include the issuance of 10 million shares priced at C$0.30 for proceeds of C$3 million, as well as the issuance of 7 million shares priced at C$0.40 for proceeds of C$2.8 million under the Listed Issuer Financing Exemption.
Sprott purchased 6,666,667 shares priced at C$0.30 for consideration of C$2,000,000.10 through 2176423 Ontario Ltd., a corporation under his control, granting him a 12.6 per cent interest in the company on a non-diluted basis.
REV will allocate the proceeds to advancing its flagship Aden Dome hydrogen asset along the Alberta-Montana border, where multiple drill-ready pay zones are backed by highly prospective seismic and other data, in addition to exploring its portfolio of gold projects in Chibougamau, one of the largest gold camps in the world, which has yielded more than 12 million ounces to date.
Management commentary
“We welcome Eric Sprott as a major new investor in REV and we thank him for his support as we offer a compelling blend of our flagship and drill-ready Aden Dome natural hydrogen project on the Alberta-Montana border with our portfolio of gold properties now comprising just over 50,000 hectares in the Chibougamau camp of northern Quebec,” Jordan Potts, REV Exploration’s chief executive officer, said in Friday’s news release. “REV emerges from this financing with an attractive share structure (53 million shares outstanding and only 4.3 million warrants) and a strong treasury, giving us all the ingredients for a very exciting 2026.”
About REV Exploration
REV is a mineral exploration company primarily focused on hydrogen discoveries along the Alberta-Montana border and gold discoveries in Quebec. The company’s portfolio includes a significant equity position in MAX Power Mining, owner of the largest permitted land package for natural hydrogen in Saskatchewan.
REV Exploration stock (TSXV:REVX) last traded at C$0.59 and has added 31.11 per cent year-over-year.
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