Renaissance Gold Closes Private Placement
RENO, NV / ACCESSWIRE / June 30, 2016 / Renaissance Gold Inc. (“RenGold” or the “Company”) (TSX.V: REN ) is pleased to announce that it has closed a non-brokered private placement through the issuance of 4,900,000 units at a price of $0.35 per unit (the “Unit”) for gross proceeds of $1,715,000. As announced June 7, 2016 and June 13, 2016, each Unit consists of one common share and one non-transferable common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company until June 30, 2019 at a price of $0.50 in year one and a price of $0.60 in years two and three.
The Company paid finders’ fees of $65,730 cash and issued 187,800 non-transferable common share purchase warrants, each exercisable to purchase one common share until June 30, 2018 at a price of $0.35.
All securities issued are subject to a hold period in Canada expiring on November 1, 2016.
The proceeds of the financing will be used to fund the Company’s work programs in Nevada and Utah and for general corporate purposes.
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 email@example.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.
SOURCE: Renaissance Gold Inc.