Drilling at Beartrack-Arnett. Image from Revival Gold.
Revival Gold (TSXV: RVG) has welcomed Dundee Corp. (TSX: DC.A) as a new shareholder following a C$3.2 million ($2.2 million) equity investment to fund its project development activities in the US.
Through a non-brokered agreement, Dundee has agreed to buy 10 million units of Revival Gold at a price of C$0.32 per unit. Each unit contains one common share and one-half of a common share purchase warrant with an exercise price of C$0.45 per share.
Shares of Revival Gold were trading at C$0.35 at market open on Wednesday, for a near 2% intraday gain. Its market capitalization is around C$70 million ($49m).
Revival also has the option to increase the size of the placement by up to 15% for additional proceeds of up to C$480,000.
Revival and Dundee have also agreed to undertake metallurgical studies using proprietary tech developed by Dundee…
