Relevant Gold Closes Non-Brokered Private Placement

Rhea-AI Summary

Relevant Gold Corp. (TSXV:RGC, OTCQB:RGCCF) announced the successful closing of the first tranche of its non-brokered private placement, raising $1,445,325 CAD by issuing 5,781,300 units at $0.25 per unit. Each unit includes one common share and a half share purchase warrant, with each whole warrant allowing the purchase of an additional share at $0.35, expiring in 24 months. The proceeds will fund exploration activities in Wyoming and general working capital. Relevant Gold directors and management participated, purchasing 552,800 units. A second tranche is expected to close in early July 2024.

Positive

• Raised $1,445,325 CAD through private placement.
• Directors and management purchased 552,800 units, indicating internal confidence.
• Proceeds will fund exploration activities, potentially increasing resource discoveries.

Negative

• Paid $43,041.25 in cash finder's fees, affecting net proceeds.
• Issued 172,165 finder's warrants, which could dilute future share value.

Not for dissemination in or into the United States or through U.S. newswires
All dollars are Canadian unless otherwise noted

VANCOUVER, BC / ACCESSWIRE / June 26, 2024 / Relevant Gold Corp. (TSXV:RGC)(OTCQB:RGCCF) (the "Company" or "Relevant Gold") is pleased to announce that it has closed the first tranche ("Tranche One") of its previously announced non-brokered private placement (the "offering") (see news release dated May 2, 2024). The company raised gross proceeds of $1,445,325 in Tranche One on the issuance of a total of 5,781,300 Units at a price of $0.25 per unit. Each Unit consists of one common share of the Company and a one-half share purchase warrant. Each whole warrant entitles the holder to purchase one 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 Company is finalizing a second follow-on closing and expects that to close in early July 2024.

The proceeds from the sale of the private placement will be used to fund exploration activities at the Company's projects in Wyoming, USA, and for general working capital.

The Company paid a total of $43,041.25 cash finder's fees and issued 172,165 finder's warrants in connection with the offering. All securities issued in the Private Placement are subject to a four (4) month hold period from the closing date under applicable securities laws in Canada expiring on October 27, 2024. In connection with the Private Placement, Relevant Gold directors and management participated in this financing and purchased a total of 552,800 Units. The issuance of Units to the directors and management of the Company constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61- 101"). The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued nor the consideration paid by such persons exceeds 25% of the Company's market capitalization.

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.

On behalf of Relevant Gold Corp.,
Rob Bergmann, Chief Executive Officer

More information

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information about Relevant Gold Corp. or this news release, please visit our website at www.relevantgoldcorp.com or contact Rob Bergmann, President and CEO, or Kristopher Jensen, Manager of Investor Relations, at 763-760-4886 or by email at ir@relevantgoldcorp.com.

Cautionary Note Regarding Forward-Looking Statements and Historical Information

This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events of Relevant Gold Corp. ("Relevant" or "Relevant Gold" or "the Company"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

The scientific and technical contents of this release have been approved by Mr. Brian C. Lentz, CPG #11999, Chief Exploration Officer of the Company, who is a "Qualified Person" as defined by Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Lentz is not independent of the Company.

SOURCE: Relevant Gold

View the original press release on accesswire.com

FAQ

What did Relevant Gold Corp. announce on June 26, 2024?

Relevant Gold Corp. announced the closing of the first tranche of its non-brokered private placement, raising $1,445,325 CAD by issuing 5,781,300 units at $0.25 per unit.

How much did Relevant Gold Corp. raise in the first tranche of its private placement?

Relevant Gold Corp. raised $1,445,325 CAD in the first tranche of its private placement.

What are the terms of the warrants issued by Relevant Gold Corp. in the private placement?

Each unit includes a half share purchase warrant, with each whole warrant allowing the purchase of an additional share at $0.35 per share, expiring in 24 months.

How will Relevant Gold Corp. use the proceeds from the private placement?

The proceeds will be used to fund exploration activities in Wyoming and for general working capital.

When is the second tranche of Relevant Gold Corp.'s private placement expected to close?

The second tranche is expected to close in early July 2024.

How many units did Relevant Gold Corp. directors and management purchase in the private placement?

Directors and management purchased a total of 552,800 units.