Mr. Robert Felder reports
RENAISSANCE GOLD CLOSES PRIVATE PLACEMENT BY ALTIUS MINERALS
Renaissance Gold Inc. investor Altius Minerals Corp. has completed its investment in the company of $1,429,054 by way of a non-brokered private placement through the issuance of 5,716,216 units at a price of 25 cents per unit, as announced on April 24, 2019. All securities issued and issuable are subject to a hold period in Canada expiring on Sept. 1, 2019.
Robert Felder, president and chief executive officer states: "We are very pleased to have Altius's support and welcome them as a more significant shareholder. We have had a long-term and productive association with the Altius team, including past alliances which generated project royalties for Altius on our Silicon and Jupiter projects. We see their meaningful support of our company as a vote of confidence in our technical and business capabilities and our strong commitment to creating shareholder value through discovery. The financing will provide additional funding for our 2019/2020 generative exploration programs."
Chad Wells, vice-president of business development of Altius, commented "It's a genuine pleasure to increase our shareholding in RenGold as we view Bob and his group as one of the pre-eminent project generators in the mineral business today. Altius also has notable royalty exposure to projects generated by RenGold from past alliances, including potential discoveries like Silicon."
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 owns 6.8 million common shares of Renaissance Gold, representing 9.9 per cent. If Altius exercises 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.
About Renaissance Gold Inc.
Renaissance 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 who provide exploration financing. Renaissance Gold maintains a large portfolio of gold and silver exploration properties and has entered into over 70 exploration agreements, including those as its predecessor, AuEx Ventures Inc., and those from Kinetic Gold. Renaissance Gold's objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.
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