01:01:22 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Relevant Gold Corp
Symbol RGC
Shares Issued 49,998,746
Close 2023-05-01 C$ 0.33
Market Cap C$ 16,499,586
Recent Sedar Documents

Relevant Gold arranges $3-million private placement

2023-05-04 11:27 ET - News Release

Mr. Rob Bergmann reports

RELEVANT GOLD CORP ANNOUNCES NON-BROKERED $3M PRIVATE PLACEMENT WITH EXPECTED PARTICIPATION FROM NEW GOLD INC.

Relevant Gold Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $3-million through the sale of up to 12 million units at a price of 25 cents per unit. Each unit consists of one common share of the company and one-half of a share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the company at a price of 35 cents per share for a period of 36 months from the date of issue. The proceeds from the sale of the private placement will be used to finance exploration activities at the company's Golden Buffalo and Lewiston projects in Wyoming, United States, and for general working capital.

New Gold Inc. has committed to increasing its equity position in the Company to 9.9 per cent of the issued and outstanding common shares with this financing. New Gold currently holds approximately 7 per cent of the company's common shares.

"We are very appreciative of the strong continued support from New Gold Inc. as we continue to pursue multiple discovery opportunities in Wyoming," said Rob Bergmann, chief executive officer of Relevant Gold. "We anticipate using to use the funds to continue proving our orogenic gold concept in new areas of our extensive claim package."

Certain directors and officers of the company may acquire securities under the private placement. Any such participation would be considered a related-party transaction as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued nor the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

The company may pay a finder's fee in connection with the private placement and this financing is subject to the approval of the Canadian Securities Exchange. All securities to be issued in the private placement will be subject to a four-month hold period from the closing date under applicable securities laws in Canada and, amongst other things, receipt by Relevant Gold of all necessary regulatory approvals, including exchange approval. The company anticipates closing the private placement as soon as practicable, subject to receipt of all necessary regulatory approvals.

About Relevant Gold Corp.

Relevant Gold is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery and development of district-scale gold projects in the state of Wyoming -- one of the most mining-friendly jurisdictions in the United States and globally.

We seek Safe Harbor.

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