Jul. 4 at 1:44 PM
$KGC $RGCCF Relevant Gold announces investment by Kinross Gold
Relevant Gold (RGCCF) announced that it has entered into a subscription agreement with Kinross Gold (KGC) in connection with a
$1.53M private placement financing of 5.1M units at a price of C
$0.30 per unit . The placement represents a separate follow-on financing to the previously completed private placement. After giving effect to the placement, Kinross will hold 9.9% of the issued and outstanding common shares in the capital of Relevant Gold on a partially diluted basis.
At closing, Relevant Gold and Kinross will enter into an Investor rights agreement reserving certain rights for Kinross, namely 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. "Kinross's strategic investment represents a strong vote of confidence in our team's Wyoming exploration vision and ability to execute in the field- we are thrilled to welcome them as a major shareholder and strategic partner," said Relevant Gold's CEO Rob Bergmann.
