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Revival Gold Announces Non-Brokered Private Placement Financing

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Revival Gold Announces Non-Brokered Private Placement Financing

Revival Gold Inc. has revealed its plans to complete a non-brokered private placement of up to 11,000,000 units of the company at a price of C$0.35 per unit. The gross proceeds from this financing are expected to reach up to C$3,850,000. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. The warrant will allow the holder to acquire one additional common share at an exercise price of C$0.45 per share for a period of thirty-six months following the closing of the financing. The company reserves the right to increase the size of the financing by up to 25% and expects the closing to occur around November 30th, 2023. The net proceeds from this financing will be used for ongoing exploration and development at Revival Gold's Beartrack-Arnett Gold Project in Idaho, USA.

Implications of Revival Gold's Private Placement Financing for New Businesses

Revival Gold Inc.'s announcement of a non-brokered private placement financing could have significant implications for new businesses, particularly those in the mining and exploration sector. The company's strategy of raising up to C$3,850,000 through the sale of 11,000,000 units, each consisting of a common share and a half-warrant, is a clear demonstration of alternative financing methods available to businesses beyond traditional bank loans or public offerings.

Attracting Investors

This move could serve as an inspiration for new businesses seeking to attract investors. The inclusion of a warrant in each unit provides an additional incentive for investors, as it allows them the potential to acquire additional shares at a predetermined price, offering the possibility of future profits.

Flexibility in Financing

Revival Gold's decision to reserve the right to increase the size of the financing by up to 25% demonstrates the flexibility that private placement financing can provide. This could be a game-changer for new businesses that need to adapt quickly to changing market conditions or unexpected opportunities.
Targeted Use of Funds
The earmarking of net proceeds for specific projects, such as Revival Gold's Beartrack-Arnett Gold Project, underscores the importance of clear business planning and targeted investment. This strategic approach could be a valuable lesson for new businesses seeking to maximize the impact of their financing efforts.
Story First Published at: https://financialpost.com/globe-newswire/revival-gold-announces-non-brokered-private-placement-financing-2
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