Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) is undertaking a non-brokered private placement for gross proceeds of up to $9,750,000.
“With this Financing we are very pleased to welcome deep value institutional investor, Donald Smith Value Fund, LP, as a new cornerstone shareholder and position Revival Gold for the company’s next phase of growth”, said Hugh Agro, President and CEO.
The Financing will include an over-allotment option pursuant to which the company may offer for sale up to an additional 3,000,000 Units at the Issue Price, exercisable in whole or in part at any time up to the closing of the Financing. If the Over-Allotment Option is fully exercised, the total gross proceeds of the Financing would be approximately $11,700,000. Closing is expected on or about January 25th, 2022.
About Revival Gold Inc.
Revival Gold Inc. is a growth-focused gold exploration and development company. The company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold.
Meanwhile, exploration continues, focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralised trend at Beartrack extends for over five km and is open on strike and at depth. Mineralisation at Arnett is open in all directions.
For further information please visit: https://revival-gold.com/