Relevant Gold Corp Announces Non-Brokered $3M Private Placement with Expected Participation from New Gold Inc.
Relevant Gold Corp Announces Non-Brokered $3M Private Placement with Expected
Participation from New Gold Inc.
Not for dissemination in or into the United States or through U.S. newswires
All dollars are Canadian unless otherwise noted
VANCOUVER, BC / ACCESSWIRE / May 4, 2023 / Relevant Gold Corp. (CSE:RGC)
("Relevant Gold" or the "Company") announces a non-brokered private placement to raise
gross proceeds of up to $3,000,000 through the sale of up to 12,000,000 units ("the Units") at a
price of $0.25 per Unit. Each Unit consists of one common share of the Company and a one-half
share purchase warrant. Each whole warrant entitles the holder to purchase one additional
common share of the Company at a price of $0.35 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 fund
exploration activities at the Company's Golden Buffalo and Lewiston projects in Wyoming,
USA, and for general working capital.
New Gold Inc. (TSX:NGD) has committed to increasing its equity position in the Company to
9.9% of the issued and outstanding common shares with this financing. New Gold currently
holds approximately 7% 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, CEO of Relevant
Gold Corp. "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 ("MI 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% 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 CSE Exchange. All securities to be issued in the Private
Placement will be subject to a four (4) 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.
This news release does not constitute an offer to sell nor a 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
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
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.