Mr. Robert Felder reports
RENAISSANCE GOLD ANNOUNCES STRATEGIC INVESTMENT BY ALTIUS MINERALS
Altius Minerals Corp. has agreed to invest $1,429,054 in Renaissance Gold Inc. by way of a non-brokered private placement through the issuance of 5,716,216 units at a price of 25 cents per unit. Each unit will consist of one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at a price of 50 cents until expiry five years from the date of closing the private placement. If the volume-weighted average trading price of the common shares of the company is at least 75 cents per share for 20 consecutive trading days in the period commencing 12 months after the closing date, the company will have the right, exercisable within three trading days thereof, to accelerate the expiry date of the warrants to the date which is 30 days after notice is given to the holders of the warrants of the accelerated expiry date and a news release to that effect is given. The company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the units for any reason.
Prior to completion of the private placement Altius owned 1,083,784 common shares of Renaissance Gold representing 1.7 per cent. After completion of the private placement Altius will own 6.8 million common shares of Renaissance Gold representing 9.9 per cent. If Altius exercise all of its warrants, then Altius would own and control an aggregate of 12,516,216 common shares of Renaissance Gold representing an ownership interest of approximately 16.9 per cent (postissuance).
Altius purchased the units for investment purposes. Depending on market conditions and other factors, Altius may from time to time acquire and/or dispose of securities of Renaissance Gold or continue to hold its current position.
The private placement and any modification to it are subject to compliance with applicable securities laws and to receipt of regulatory approval. The proceeds from the private placement will be used by Renaissance Gold for general corporate purposes.
About Renaissance Gold Inc.
Renaissance Gold is a Western United States-focused prospect generator utilizing a joint venture business model. Renaissance Gold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high-quality precious metal exploration projects that are then offered for joint venture to industry partners which provide exploration financing.
We seek Safe Harbor.
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