Revival Gold announces strategic placement with Dundee Corporation

Revival Gold (RVLGF) has entered into a non-brokered agreement with Dundee Corporation through its wholly owned subsidiary, Dundee Resources, pursuant to which Dundee has agreed to purchase 10,000,000 units of the Company at a price of C$0.32 per Unit, for gross proceeds of C$3,200,000. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share of the Company at an exercise price of C$0.45 for a period of twenty-four months from the date of issuance. Proceeds from the Placement will be used to advance Revival Gold’s ongoing project development activities and for general working capital and corporate purposes. n connection with the Placement, Revival Gold has granted Dundee a first right of refusal, for a term of six months, to participate in any future equity financings and maintain the firm’s pro-rata share in the Company. Additionally, Revival Gold and Dundee have agreed to undertake metallurgical studies utilizing proprietary technologies developed by Dundee’s subsidiary, Dundee Sustainable Technologies. Revival Gold has the option, exercisable in its sole discretion, to increase the size of the Placement by up to 15%, for additional aggregate gross proceeds of up to C$480,000. Upon closing of the Placement, Dundee will hold approximately 5% of the issued and outstanding Common Shares of the Company on a non-diluted basis. Any securities issued pursuant to the Placement and the Upsized Placement will be subject to a statutory four month hold period. The Placement is subject to customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Close is expected on or about February 28th, 2025.