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Relevant Gold Closes Strategic Investment from Kinross Gold and Announces Completion of Oversubscribed Spring Financings

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Relevant Gold Closes Strategic Investment from Kinross Gold and Announces Completion of Oversubscribed Spring Financings






Relevant Gold Corp. (TSX-V:RGC) (OTCQB:RGCCF) is pleased to announce that it has closed a non-brokered private placement agreement for 5,100,000 Units of the Company totaling $1,530,000 with Kinross Gold Corporation (NYSE:KGC) (TSX:K).  The Kinross placement obviates the second tranche of the previously announced private placement (see news release), thereby completing all pending financings. In connection with these offerings, the Company has issued a total of 10,881,300 Units for gross proceeds of $2,975,325, oversubscribing the original target of $2,500,000.

Each Unit consisted of one common share and one-half share purchase warrant, with each whole warrant exercisable for an additional common share of the Company at a price of $0.35 per share for a period of 24 months from the date of issue. The Units issued to Kinross are subject to a statutory hold period expiring on November 9, 2024. Proceeds from the combined placements will be used to fund exploration at the Company’s projects in Wyoming, USA, and for general working capital.

“We are extremely pleased with Kinross’s strategic investment in Relevant Gold and the strong endorsement this reflects for our thesis that Wyoming has Abitibi Gold Belt potential. We look forward to working with them as we continue to explore for world-class gold discoveries in Wyoming,” said Relevant Gold CEO, Rob Bergmann. “Wyoming is becoming a top global mining jurisdiction and in the current rising gold environment, Relevant Gold provides investors first-mover exposure to an emerging pipeline of belt-scale gold opportunities.”

As a result of this financing, Kinross holds on a partially diluted basis, approximately 9.9% of the issued and outstanding common shares of the Company. In conjunction with this strategic investment, Relevant Gold and Kinross have entered into an Investor Rights Agreement reserving Kinross’s right to pro-rata participation in future financings, the ability to increase ownership to 19.9%, and the formation of a technical advisory committee comprised of two Kinross members and two Relevant Gold members.

This news release does not constitute an offer to sell or 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.

Posted July 9, 2024

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