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Revival Gold (RVLGF) has closed a non-brokered private placement for total gross proceeds of C$3,680,000 as previously announced on February 19th, 2025. The Placement consisted of the issuance of 11,500,000 units of the Company at a price of C$0.32 per Unit, which includes the exercise of the entire 15% upsize option. Dundee Corporation through its wholly owned subsidiary, Dundee Resources, acquired 10,000,000 Units for gross proceeds of C$3,200,000. Dundee is a TSX-listed mineral exploration and development investment corporation. Revival Gold has granted Dundee a first right of refusal to maintain its equity ownership interest in the Company through the right to participate in equity financings for a term of six months following the close of the Placement. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share of the Company at an exercise price of C$0.45 per Warrant Share for a period of twenty-four months from the date of issuance. Proceeds from the Placement are expected to be used to advance Revival Gold’s ongoing project development activities and for general working capital and corporate purposes. All securities issued under the Placement are subject to a statutory four month and one-day hold period. In connection with the Placement, the Company paid an aggregate of C$175,000 in advisory fees to Paradigm Capital Inc., BMO Capital Markets and Beacon Securities Limited. The Placement is subject to the final approval of the TSX Venture Exchange.
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