Reunion Gold Announces Increase to Private Placement
23 July 2020 - 5:49AM
Reunion Gold Corporation (TSX-V: RGD) (the “Company”) is pleased to
announce that, due to higher than expected demand, the Company
intends to increase the size of its non-brokered private placement
announced on July 21, 2020 from 50,000,000 units of the Company
("Units") to 75,000,000 Units at a price of $0.08 per Unit, for
gross proceeds of up to $6.0 Million (the “Offering”). Each Unit
will consist of one common share of the Company and one half of one
common share purchase warrant (each whole warrant, a "Warrant"),
with each Warrant exercisable to acquire one common share at $0.12
for a period of 24 months from the closing date of the Offering.
The Company expects to close the Offering on or
about August 5, 2020, subject to certain conditions including the
approval of the TSX Venture Exchange (“TSXV”). In connection with
the Offering, the Company may pay finder’s fees to qualified
finders in accordance with the policies of the TSXV. All other
terms of the Offering described in the July 21, 2020 news release
remain unchanged.
The Offering will be conducted in reliance upon
certain prospectus and private placement exemptions. The securities
issuable under the private placement will be subject to a hold
period expiring four months and one day after the closing date. The
Shares have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the Shares in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
Cautionary Statement
This news release contains certain
“forward-looking information” under Canadian securities laws.
Specifically, this news release contains forward looking
information about the Company’s plans to complete the Offering on
the terms announced or at all, and on the use of the proceeds of
the Offering. Forward looking information is based upon assumptions
by management that are subject to known and unknown risks and
uncertainties beyond the Company’s control, including risks related
to capital markets and the availability of financing for companies
such as the Company. There can be no assurance that outcomes
anticipated in the forward-looking information will occur, and
actual results may differ materially for a variety of reasons.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligation
to update publicly or otherwise revise any forward-looking
information, except as may be required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
About Reunion Gold
Reunion Gold Corporation is a leading gold
explorer with a portfolio of projects in the Guiana Shield, South
America. The Company’s shares are listed on the TSX Venture
Exchange under the symbol ‘RGD’. Additional information about the
Company is available on SEDAR (www.sedar.com) and on the Company’s
website (www.reuniongold.com). For further information please
contact:
REUNION GOLD CORPORATION
Réjean Gourde, President & CEOPaul Fowler, Manager, Corporate
DevelopmentTelephone: +1 450.677.2585Email:
info@reuniongold.com
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