Revival Gold Secures C$24 Million Funding with EMR Capital
Revival Gold Partners with EMR Capital for Funding
Revival Gold Inc. (TSXV: RVG) is excited to announce a strategic partnership with EMR Capital Management Limited. This collaboration will lead to the purchase of 28,506,250 common shares at C$0.48 each, resulting in gross proceeds amounting to C$13.68 million. This significant financial influx positions the company favorably for its future growth objectives.
The Role of EMR Capital
EMR Capital is a distinguished private equity manager in the resource sector, known for backing experienced management teams to enhance production and operational efficiency within the global mining framework. Upon closing this deal, EMR's stake in Revival Gold is anticipated to reach approximately 10.86%. This is contingent upon the full subscriptions of the Concurrent Offering alongside the strategic placement.
Strengthening the Board
As part of the investment deal, EMR Capital will be granted anti-dilution rights, allowing them to maintain their ownership percentage. They will also have the privilege to nominate one director to Revival Gold's Board. This move signifies the confidence EMR has in the company and paves the way for strategic governance as they aim for further development in the mining sector.
Expanding Fundraising Efforts
In conjunction with the EMR strategic placement, Revival Gold plans to conduct a non-brokered private placement targeting up to C$10.32 million. This will involve the issuance of up to 21,493,750 shares at the same price of C$0.48 each. The capital raised will further support the exploration and development of their key projects: the Mercur Gold Project in Utah and the Beartrack-Arnett Gold Project in Idaho.
Utilization of Proceeds
The funds from both the EMR strategic placement and the concurrent offering will be crucial in advancing Revival Gold's ongoing projects and ensuring overall working capital. The emphasis will be on boosting exploration activities, managing permits, and preparing for upcoming project phases. Revival Gold remains committed to transparency and will detail the usage of funds through regulatory filings.
Future Prospects and Strategic Development
The closing of this partnership and the associated offerings are subjected to customary closing conditions, including essential regulatory approvals. Revival Gold is poised for closing on or around the anticipated date, which is approximately a few weeks after the announcement.
Revival Gold's recent placement with EMR Capital marks a pivotal moment in its journey, enabling them to achieve financial stability and endurance in a competitive market while setting the stage for significant growth in production.
About Revival Gold Inc.
Revival Gold stands out as a notable developer within the U.S. gold mining industry. The company is advancing the Mercur Gold Project and undertaking preparations for the Beartrack-Arnett project. Revival Gold maintains a strong presence on the TSX Venture Exchange under the ticker symbol "RVG" and also trades on the OTCQX Market as "RVLGF". Operating from Toronto with a dedicated exploration office in Idaho, they're gearing up for substantial developments in the coming years.
Contact Information
For inquiries, stakeholders can reach out to:
Hugh Agro, President & CEO or Lisa Ross, Vice President & CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com
Frequently Asked Questions
What is the significance of the investment from EMR Capital?
The investment enhances Revival Gold's financial strength, allowing for expansion and development of key projects.
How will the funds be utilized?
The proceeds will support exploration, project preparations, and general corporate needs.
What are the expected outcomes of this partnership?
The partnership is expected to expedite development and enhance gold production capabilities.
What is Revival Gold's primary focus?
The company is dedicated to advancing gold mining projects in the United States, focusing on responsible operations and growth.
How can investors get more information?
Investors can visit the company's website or reach out directly via the provided email for detailed inquiries.
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