Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
VANCOUVER, BC / ACCESSWIRE / May 1, 2019 / Renaissance Gold Inc. (TSX.V:REN / OTCQB:RNSGF) ("RenGold") is pleased to announce that Altius Minerals Corporation (TSX:ALS) ("Altius") has completed its investment in the Company of $1,429,054 by way of a non-brokered private placement through the issuance of 5,716,216 units at a price of $0.25 per unit (a "Unit") as announced on April 24, 2019. All securities issued and issuable are subject to a hold period in Canada expiring on September 1, 2019.
Robert Felder, President and CEO states "We are very pleased to have Altius' support and welcome them as a more significant shareholder. We have had a long-term and productive association with the Altius team, including past alliances which generated project royalties for Altius on our Silicon and Jupiter projects. We see their meaningful support of our company as a vote of confidence in our technical and business capabilities, and our strong commitment to creating shareholder value through discovery. The financing will provide additional funding for our 2019/2020 generative exploration programs."
Chad Wells, Vice President Business Development of Altius commented "It's a genuine pleasure to increase our shareholding in RenGold as we view Bob and his group as one of the preeminent project generators in the mineral business today. Altius also has notable royalty exposure to projects generated by RenGold from past alliances, including potential discoveries like Silicon."
Prior to completion of the private placement Altius owned 1,083,784 common shares of RenGold representing 1.7%. After completion of the private placement Altius owns 6,800,000 common shares of RenGold representing 9.9%. If Altius exercise all of its Warrants, then Altius would own and control an aggregate of 12,516,216 common shares of RenGold representing an ownership interest of approximately 16.9% (post-issuance).
Altius purchased the Units for investment purposes. Depending on market conditions and other factors, Altius may from time to time acquire and/or dispose of securities of RenGold or continue to hold its current position.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a western US focused prospect generator utilizing a joint venture business model. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high quality precious metal exploration projects that are then offered for joint venture to industry partners who provide exploration funding. RenGold maintains a large portfolio of gold and silver exploration properties and has entered into over 70 exploration agreements including those as its predecessor, AuEx Ventures Inc., and those from Kinetic Gold. RenGold's objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.
About Altius Minerals Corporation
Altius directly and indirectly holds diversified royalties and streams which generate revenue from 15 operating mines. These producing royalties are located in Canada and Brazil and provide exposure to copper, zinc, nickel, cobalt, iron ore, potash, thermal (electrical) and metallurgical coal. The portfolio also includes development stage royalties in copper and renewable energy and numerous predevelopment stage royalties covering a wide spectrum of mineral commodities and jurisdictions. Altius also holds a portfolio of junior equities that were generated from vending exploration projects to industry partners in exchange for minority equity interests and new royalties.
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF ANY OF THE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL, INCLUDING ANY OF THE SECURITIES IN THE UNITED STATES OF AMERICA. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE "1933 ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE 1933 ACT) UNLESS REGISTERED UNDER THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS, OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE.
By: Robert Felder, President & CEO
For further information, contact:
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.
SOURCE: Renaissance Gold Inc.