Mr. Rob Bergmann reports
RELEVANT GOLD UPSIZES PRIVATE PLACEMENT TO $7M
In connection with its previously announced non-brokered private placement (see Feb. 11, 2025, news release) Relevant Gold Corp. has increased the size of the private placement to 23,333,333 shares at a price of 30 cents per share for aggregate gross proceeds of $7-million.
The proceeds from the sale of the private placement will be used to finance exploration activities at the company's projects in Wyoming, United States, and for general working capital.
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 to, 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 TSX Venture 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, the receipt by Relevant Gold of all necessary regulatory approvals, including exchange approval. The company anticipates closing of the private placement in late February, 2025, subject to the 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.
The scientific and technical contents of this release have been approved by Brian C. Lentz, CPG No. 11999, chief exploration officer of the company, who is a qualified person as defined by Canadian National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Lentz is not independent of the company.
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