RNC Minerals (TSX: RNX) is pleased to announce gold production for the month of August 2019 of 8,104 ounces.  Paul Andre Huet, Chairman & CEO, commented: “August gold production of 8,104 ounces is further evidence of a strong start to the second half of the year, with total July-August production of 15,977 ounces. Material processed during August was comprised of Beta Hunt mined material, mined material from the Baloo Stage I open pit and run of mine stockpiles.”

In addition, further to its press release dated August 26, 2019, announcing an $18,000,000 bought deal financing (the “Offering”), the Company has agreed with Haywood Securities Inc., as lead underwriter on behalf of a syndicate of underwriters, to amend the terms of the Offering.

Under the amended terms of the Offering, the Underwriters have agreed to purchase 45,000,000 units of the Company at a price of $0.40 per Unit, for gross proceeds to the Company of $18,000,000. Each Unit will consist of one common share in the capital of the Company and one-half of one common share purchase warrant. Each Warrant shall be exercisable to acquire one Common Share at a price per Warrant Share of $0.50 for a period of 24 months from the closing date of the Offering. The Company and the Underwriters have also agreed to reduce the cash commission payable by the Company from 6.0% to 4.5% of the gross proceeds from the Offering.

The Company has granted the Underwriters an over-allotment option, exercisable at the Issue Price for a period of 30 days following the closing of the Offering, to purchase up to an additional 6,750,000 Units (representing 15% of the Units offered pursuant to the Offering) to cover over-allotments, if any, or for market stabilization purposes.

The net proceeds received by the Company from the Offering will be used for the continued ramp up of production at Beta Hunt and integration with the Higginsville Gold Operations, and for working capital and general corporate purposes.

The Units under the Offering will be offered by way of short form prospectus in each of the provinces of Canada, including Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Units will not be offered or sold in the United States except under Rule 144A or Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended.

The Offering is scheduled to close on or about September 20, 2019 and is subject to certain conditions including, but not limited to, receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About RNC

RNC is currently focused on the integration of its Beta Hunt Gold Mine with its recently acquired Higginsville Gold Operation in Western Australia.  A significant high-grade gold discovery – “Father’s Day Vein” – was made in September 2018 at Beta Hunt. The significant Beta Hunt gold resource potential is underpinned by multiple gold shears with gold intersections across a 4 km strike length which remain open in multiple directions adjacent to an existing 5 km ramp network. RNC has a 100% interest in HGO, which is comprised of a low cost 1.4 Mtpa gold mill and a substantial portfolio of gold tenements. In addition, RNC owns a 28% interest in a nickel joint venture that owns the Dumont Nickel-Cobalt Project located in the Abitibi region of Quebec which contains the second largest nickel reserve and ninth largest cobalt reserve in the world. RNC also owns a 24% interest in Orford Mining Corporation, a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. RNC has a strong management team and Board with over 100 years of mining experience.