VANCOUVER - Relevant Gold Corp. (TSXV:RGC)(OTCQB:RGCCF) (the 'Company' or 'Relevant Gold') 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 ('Kinross') (NYSE:KGC)(TSX:K).
The Kinross placement obviates the second tranche of the previously announced private placement, 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.
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.
RELEVANT GOLD CORP. 
