Relevant Gold Corp. (TSXV:RGC)(OTCQB:RGCCF) (the “Company” or “Relevant Gold”) has announced a subscription agreement with Kinross Gold Corporation (“Kinross”) (NYSE:KGC),(TSX:K) for a $1,530,000 private placement financing. This financing involves the issuance of 5,100,000 units at $0.30 per unit, representing a follow-on financing to a previously completed private placement.
Details of the Placement
The Placement consists of 5,100,000 Units priced at $0.30 per unit. Each Unit comprises one common share of the Company and a one-half share purchase warrant. The warrant allows the holder to purchase an additional common share at $0.35 per share within 24 months from the date of issue. No finder’s fees are associated with this Placement.
Strategic Investment by Kinross
Following the Placement, Kinross will hold approximately 9.9% of Relevant Gold’s issued and outstanding common shares on a partially diluted basis. The agreement includes an Investor Rights Agreement granting Kinross certain rights, such as pro-rata participation in future financings, the potential to increase ownership to 19.9%, and the formation of a technical advisory committee with representation from both companies.
“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. The investment will enhance Relevant Gold’s technical depth, corporate structure, and financial position, paving the way for their upcoming drilling program.
Utilization of Proceeds
The proceeds from the Placement will primarily fund exploration activities at the Company’s projects in Wyoming, USA, along with supporting general working capital requirements.
Closing of the Placement
The Company anticipates closing the Placement promptly upon receiving 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 being offered have not been registered under the U.S. Securities Act and may not be sold within the United States without proper registration or an exemption.
About Relevant Gold Corp.
Relevant Gold Corp. is a North American gold exploration company with a focus on acquiring, exploring, discovering, and developing gold projects in Wyoming. The company operates under an experienced and successful team dedicated to creating significant value for its shareholders.
Additional insight: The strategic investment by Kinross not only provides financial support but also opens up avenues for collaboration and knowledge-sharing between two prominent players in the gold exploration sector. This partnership could lead to synergies in exploration techniques, operational efficiencies, and strategic decision-making.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
For more information, visit www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or via email at investorrelations@relevantgoldcorp.com.
Cautionary Note Regarding Forward-Looking Statements and Historical Information
This news release contains forward-looking information that involves risks and uncertainties. The Company does not guarantee that these forward-looking statements will materialize, and investors should exercise caution when considering such information.
The scientific and technical contents of this release have been reviewed and approved by Mr. Brian C. Lentz, Chief Exploration Officer of the Company, who is a Qualified Person as defined by Canadian National Instrument 43-101. Mr. Lentz is not independent of the Company.
SOURCE: Relevant Gold Corp.
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