Revival Gold Inc. (TSXV: RVG | OTCQX: RVLGF) has announced its intention to complete a non-brokered private placement of up to 5,000,000 units of the company at a price of C$0.60 per unit for gross proceeds of up to C$3,000,000.
Each Unit will be comprised of one common share of the company and one half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of C$0.80 per warrant share at any time for a period of 24 months following the closing of the financing.
“With this financing, Revival Gold is taking the opportunity to top up the Company’s yearend cash balance ahead of what is expected to be a very busy 2023”, said Hugh Agro, president & CEO.
The company reserves the right to increase the size of the financing by up to 25% of the size of the financing pursuant to which the company may offer for sale up to an additional 1,250,000 units at the issue price.
The Upsize option may be exercised in whole or in part in the company’s sole discretion at any time up to the closing of the financing. If the Financing is fully subscribed and the upsize option is exercised in full, the total gross proceeds of the Financing is expected to be approximately C$3,750,000. Revival expects closing on or around 28 December 2022.
To find out more, please visit http://www.revivalgold.com