Renaissance Gold Inc. (TSX.V:REN) is pleased to announce it has closed a non-brokered private placement announced on April 18, 2018 and May 14, 2018 to raise $3,117,200. On closing the placement, the Company issued 12,988,332 units at a price of $0.24 per unit. Each Unit consisted of one common share and one non-transferable common share purchase warrant. Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.48 until expiry on May 16, 2023. If the daily volume weighted average trading price of the common shares of the Company is at least $0.72 per share for 20 consecutive trading days in the period commencing September 17, 2018, the Company will have the right, exercisable within three trading days thereof, to accelerate the expiry date of the Warrants to the 30th day after notice is given to the holders of the warrants of the accelerated expiry date and a news release to that effect is given.
The Company paid $132,700 cash and issued 15,000 Units in payment of finder’s fees to Sprott Global Resource Investments, Ltd. and Haywood Securities Inc.
All securities issued and issuable are subject to a hold period in Canada expiring on September 17, 2018.
Proceeds of this private placement will be used primarily for continued generative exploration, advancement and marketing of the Company’s projects in the United States and general corporate purposes.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a western US focused prospect generator utilizing a joint venture business model. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high quality precious metal exploration projects that are then offered for joint venture to industry partners who provide exploration funding. RenGold maintains a large portfolio of gold and silver exploration properties and has entered into over 60 exploration agreements including those as its predecessor, AuEx Ventures Inc. RenGold’s objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF ANY OF THE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL, INCLUDING ANY OF THE SECURITIES IN THE UNITED STATES OF AMERICA. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE 1933 ACT) UNLESS REGISTERED UNDER THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS, OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE.
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We acknowledge the [financial] support of the Government of Canada.