Oleblue
4 months ago
Relevant Gold Closes Strategic Investment from Kinross Gold and Announces Completion of Oversubscribed Spring Financings
Not for dissemination in or into the United States or through U.S. newswires
All dollars are Canadian unless otherwise noted
VANCOUVER, B.C., July 9, 2024 – Relevant Gold Corp. (TSXV:RGC) (OTCQB:RGCCF) (the “Company” or
“Relevant Gold”) is pleased to announce that it has closed a non-brokered private placement agreement
for 5,100,000 Units of the Company totaling $1,530,000 with Kinross Gold Corporation (“Kinross”)
(NYSE:KGC, TSX:K). The Kinross placement obviates the second tranche of the previously announced
private placement (see news release), thereby completing all pending financings. In connection with
these offerings, the Company has issued a total of 10,881,300 Units for gross proceeds of $2,975,325,
oversubscribing the original target of $2,500,000.
Each Unit consisted of one common share and one-half share purchase warrant, with each whole
warrant exercisable for an additional common share of the Company at a price of $0.35 per share for a
period of 24 months from the date of issue. The Units issued to Kinross are subject to a statutory hold
period expiring on November 9, 2024. Proceeds from the combined placements will be used to fund
exploration at the Company’s projects in Wyoming, USA, and for general working capital.
https://relevantgoldcorp.com/wp-content/uploads/2024/07/Relevant-Gold-Closes-Oversubscribed-Non-Brokered-Private-Placement-Welcomes-Kinross-as-Strategic-Investor-FINAL.pdf
Oleblue
4 months ago
Relevant Gold Announces Strategic Investment by Kinross Gold
Not for dissemination in or into the United States or through U.S. newswires
All dollars are Canadian unless otherwise noted
VANCOUVER, B.C., July 4, 2024 – Relevant Gold Corp. (TSXV:RGC) (OTCQB:RGCCF) (the “Company” or “Relevant Gold”) is pleased to announce that it has entered into a subscription agreement with Kinross Gold Corporation (“Kinross”) (NYSE:KGC, TSX:K) in connection with a $1,530,000 private placement financing (the “Placement”) of 5,100,000 units at a price of $0.30 per unit . The Placement represents a separate follow-on financing to the previously completed private placement (see news releases dated May 2, and June 26, 2024).
The Placement is for 5,100,000 Units at a price of $0.30 per unit, with each Unit consisting of one
common share of the Company and a one-half share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.35 per share for a period of 24 months from the date of issue. There are no finder’s fees associated with this Placement.
After giving effect to the Placement, Kinross will hold approximately 9.9% of the issued and outstanding
common shares in the capital of the Company on a partially diluted basis. At closing, Relevant Gold and Kinross will enter into an Investor Rights Agreement reserving certain rights for Kinross, namely pro-rata participation in future financings, the ability to increase ownership to 19.9%, and the formation of a technical advisory committee comprised of two Kinross members and two Relevant Gold members.
“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,” said Relevant Gold’s CEO Rob Bergmann. “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.”
The Proceeds from the Placement are expected to be used to fund exploration activities at the
Company’s projects in Wyoming, USA, and for general working capital.
The Company anticipates closing the Placement shortly following receipt of approval from the TSX
Venture Exchange.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in
the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (The “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
https://relevantgoldcorp.com/wp-content/uploads/2024/07/Relevant-Gold-Closes-Non-Brokered-Private-Placement-with-Kinross-FINAL.pdf