Not for distribution to US news agencies or distribution in the US
Long Eel, Quebec, February 24, 2022 (GLOBE NEWSWIRE) — Reunion Gold Corporation (TSXV: RGD) (“Company”) announces that it has closed the previously announced private placement of common shares in the purchase transaction. Did. Paradigm Capital Inc on behalf of syndicates of underwriters such as Sprott Capital Partners LP, Cormark Securities Inc. and BMO Capital Markets. And provided with Dundee Goodman Merchant Partners (“Lead Underwriters”) ”). (Lead underwriter, collectively referred to as “underwriter”). Following the offer, we issued 65,715,349 shares of our common stock (“common stock”) at a price of $ 0.175 per share, including 8,570,349 shares of common stock issued through the exercise of the underwriter’s over-allotment option. .. Total revenue to us is $ 11,500,186. As a reward, we paid the underwriter a cash fee of approximately $ 680,000 and issued a total of 3,894,064 non-transferable compensation options (“Compensation Options”) to the underwriter. Each compensation option entitles its holder to purchase one share of common stock at an exercise price of $ 0.175 per share of common stock until February 24, 2024.
Net revenue from the offering will be used primarily to accelerate exploration activities, including drilling and trenching in the OKO West project, and for general corporate purposes. All securities issued in accordance with the offering are subject to the statutory four-month holding period expiring June 25, 2022.
Securities have not been and will not be registered under the Securities Act of 1933 (the Securities Act of 1933) or the Securities Act of the United States. It may not be offered or sold in the United States. Registration under US securities law and all applicable state securities laws, or non-compliance with applicable exemption requirements. This press release does not constitute an offer to sell or buy an offer in the United States, nor may such securities be sold in jurisdictions where such offer, solicitation, or sale is illegal. There is none.
About Reunion Gold Corporation
Reunion Gold Corporation is a leading gold explorer in Guyana Shield, South America, with a portfolio of projects in Guyana, Suriname and French Guiana. In 2021, the company made an exciting new gold discovery in Guyana’s Oko West project. So far, we have outlined the mineralization of gold in the Kairuni Zone, where strikes exceed 2,500 meters in length and 220 meters in depth. A 15,000-meter Phase 4 drill program is currently underway with the goal of releasing Maiden resources in the second half of 2022. Our common stock is listed on the TSX Venture Exchange under the “RGD” symbol. Additional information about us is available on SEDAR (www.sedar.com) and our website (www.reuniongold.com).
Description of future prospects
This news release contains “forward-looking information” that includes, but is not limited to, statements regarding the use of offering revenue.The description of the future outlook on the opinion When Estimate of management that’s why of the date like that statement that is Made When that is base With various assumptions. We have no intention or obligation to update these forward-looking statements and shareholders are warned not to be overly dependent on such statements. statement.
For more information, please contact:
REUNION GOLD CORPORATION
Carlos H. Bertoni, Interim CEO, or
Doug Flegg, Business Development Advisor Phone: +1 450.677.2585
CBJ News Maker
Reunion Signs $ 11.5 Million Acquisition Transaction Private Placement Loan, Canadian Business Journal
Source link Reunion Signs $ 11.5 Million Acquisition Transaction Private Placement Loan, Canadian Business Journal