- Revival Gold (RVG) has announced a non-brokered private placement of for gross proceeds of up to C$3,000,000
- Under the private placement, the company will issue up to 5,000,000 units at a price of $0.60 per unit
- The company plans to use the net proceeds of the financing to fund ongoing exploration and development at its core Beartrack-Arnett Gold Project
- Revival Gold Inc. is a growth-focused gold exploration and development company
- Revival Gold Inc. opened trading at $0.64
Revival Gold (RVG) has announced a non-brokered private placement for gross proceeds of up to C$3,000,000.
Under the private placement, the company will issue up to 5,000,000 units at a price of $0.60 per unit. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of $0.80 per warrant share at any time for a period of twenty-four months following the closing of the financing.
“With this financing, Revival Gold is taking the opportunity to top up the company’s year-end cash balance ahead of what is expected to be a very busy 2023,” stated Hugh Agro, President & CEO.
The company reserves the right to increase the size of the financing by up to 25 per cent of the size of the financing by which the company may offer for sale up to an additional 1,250,000 units at the issue price.
The upsize option may be exercised in whole or in part at the company’s discretion at any time up to the closing of the financing.
If the financing is fully subscribed and the upsize option is exercised in full, the total gross proceeds of the financing are expected to be approximately $3,750,000.
The closing of the offering is expected on or about December 28, 2022.
The company plans to use the net proceeds of the financing to fund ongoing exploration and development at its core Beartrack-Arnett Gold Project located in Lemhi County, Idaho and for general corporate purposes.
Revival Gold Inc. is a gold exploration and development company.
Revival Gold Inc. opened trading at $0.64.