Relevant Gold Closes Strategic Investment from Kinross Gold and Announces Completion of Oversubscribed Spring Financings
Relevant Gold Closes Strategic
Investment from Kinross Gold and
Announces Completion of
Oversubscribed Spring
Financings
Not for dissemination in or into the United States or through U.S.
newswires
All dollars are Canadian unless otherwise noted
VANCOUVER, BC / ACCESSWIRE / July 9, 2024 / Relevant Gold Corp.
(TSXV:RGC)(OTCQB:RGCCF) (the "Company" or "Relevant Gold") is pleased
to announce that it has closed a non-brokered private placement agreement
for 5,100,000 Units of the Company totaling $1,530,000 with Kinross Gold
Corporation ("Kinross") (NYSE:KGC)(TSX:K). The Kinross placement obviates
the second tranche of the previously announced private placement (see news
release), thereby completing all pending financings. In connection with
these offerings, the Company has issued a total of 10,881,300 Units for
gross proceeds of $2,975,325, oversubscribing the original target of
$2,500,000.
Each Unit consisted of one common share and one-half share purchase
warrant, with each whole warrant exercisable for an additional common
share of the Company at a price of $0.35 per share for a period of 24 months
from the date of issue. The Units issued to Kinross are subject to a statutory
hold period expiring on November 9, 2024. Proceeds from the combined
placements will be used to fund exploration at the Company's projects in
Wyoming, USA, and for general working capital.
"We are extremely pleased with Kinross's strategic investment in Relevant
Gold and the strong endorsement this reflects for our thesis that Wyoming
has Abitibi Gold Belt potential. We look forward to working with them as we
continue to explore for world-class gold discoveries in Wyoming," said
Relevant Gold CEO, Rob Bergmann. "Wyoming is becoming a top global
mining jurisdiction and in the current rising gold environment, Relevant Gold
provides investors first-mover exposure to an emerging pipeline of belt-scale
gold opportunities."
As a result of this financing, Kinross holds on a partially diluted basis,
approximately 9.9% of the issued and outstanding common shares of the
Company. In conjunction with this strategic investment, Relevant Gold and
Kinross have entered into an Investor Rights Agreement reserving Kinross's
right to pro-rata participation in future financings, the ability to increase
ownership to 19.9%, and the formation of a technical advisory committee
comprised of two Kinross members and two Relevant Gold members.
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 have not
been and will not be registered under the United States Securities Act of
1933, as amended (The "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
About Relevant Gold Corp.
Relevant Gold Corp. 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.
On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer
More information
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release. For
further information about Relevant Gold Corp. or this news release, please
visit our website at www.relevantgoldcorp.com or contact Rob Bergmann,
President and CEO, or Kristopher Jensen, Manager of Investor Relations, at
763-760-4886 or by email at [email protected].
Cautionary Note Regarding Forward-Looking Statements and Historical
Information
This news release contains certain statements that constitute forward-
looking information within the meaning of applicable securities laws. These
statements relate to future events of Relevant Gold Corp. ("Relevant" or
"Relevant Gold" or "the Company"). Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often,
but not always, using words or phrases such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "forecast", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe", "outlook"
and similar expressions) are not statements of historical fact and may be
forward-looking information. Forward-looking information involves known
and unknown risks, uncertainties, and other factors which may cause the
actual results, performance, or achievements of the Company to be materially
different from any future results, performance, or achievements expressed or
implied by the forward-looking information. Such risks include, among
others, the inherent risk of the mining industry; adverse economic and
market developments; the risk that the Company will not be successful in
completing additional acquisitions; risks relating to the estimation of mineral
resources; the possibility that the Company's estimated burn rate may be
higher than anticipated; risks of unexpected cost increases; risks of labour
shortages; risks relating to exploration and development activities; risks
relating to future prices of mineral resources; risks related to work site
accidents, risks related to geological uncertainties and variations; risks related
to government and community support of the company's projects; risks
related to global pandemics and other risks related to the mining industry.
The Company believes that the expectations reflected in such forward-
looking information are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward‐looking information
should not be unduly relied upon. These statements speak only as of the date
of this news release. The Company does not intend, and does not assume any
obligation, to update any forward‐looking information except as required by
law. This document does not constitute an offer to sell, or a solicitation of an
offer to buy, securities of the Company in Canada, the United States or any
other jurisdiction. Any such offer to sell or solicitation of an offer to buy the
securities described herein will be made only pursuant to subscription
documentation between the Company and prospective purchasers. Any such
offering will be made in reliance upon exemptions from the prospectus and
registration requirements under applicable securities laws, pursuant to a
subscription agreement to be entered into by the Company and prospective
investors.
The scientific and technical contents of this release have been approved by
Mr. Brian C. Lentz, CPG #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.
SOURCE: Relevant Gold Corp.