Renaissance Gold Increases Private Placement
White Rock, British Columbia (FSCwire) - Renaissance Gold Inc. (“RenGold” or the “Company”) is pleased to announce that due to overwhelming demand it has increased its previously announced non-brokered private placement from $1,001,000 to up to $1,715,000. The Company will issue of up to 4,900,000 units at a price of $0.35 per unit (the “Unit”) for gross proceeds of up to $1,715,000 with each Unit consisting of one common share and one non-transferable common share purchase warrant (the “Warrant”). Each Warrant will entitle the holder to purchase one additional common share of the Company for three years from closing of the private placement at a price of $0.50 in year one and a price of $0.60 in years two and three.
The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval. The Company may pay finders’ fees of up to 6% in cash and 6% in non-transferable common share purchase warrants, each exercisable to purchase one share for two years at a price of $0.35.
The proceeds of the financing will be used to fund the Company's work programs in Nevada and Utah and for general corporate purposes.
Investors are reminded that this private placement is only open to non US investors.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects in Nevada and Utah. RenGold’s objective is to place the projects in exploration earn-in agreements with industry partners who provide exploration funding. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire new precious metal exploration projects that are then offered for joint venture.
Renaissance Gold Inc.
By: Richard L. Bedell, President and CEO
For further information, contact:
Richard L. Bedell, 775-337-1545 or rbedell@rengold.com
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 release.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Renaissance Gold Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Renaissance Gold Inc.’s management on the date the statements are made. Except as required by law, Renaissance Gold Inc. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Renaissance06132016.pdf
Source: Renaissance Gold Inc. (TSX Venture:REN) http://www.rengold.com
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