Peterson McVicar Acts for Revival Gold to Acquire Ensign Minerals and Concurrent C$7 Million Equity Financing

On April 10, 2024 Revival Gold Inc. ("Revival Gold" or the "Company") announced that it entered into a definitive business combination agreement with Ensign Minerals Inc. ("Ensign") and Revival Gold Amalgamation Corp. ("Revival Subco") dated April 9th, 2024 (the "Definitive Agreement"), whereby Revival Gold will acquire all of the issued and outstanding shares of Ensign, a private company, in exchange for an aggregate of 61,376,126 million shares of Revival Gold based on a share exchange ratio of 1.1667 Revival shares for each Ensign share. Upon completion of the proposed business combination (the "Transaction"), Revival Gold will pursue engineering and economic studies at the newly acquired Mercur Gold Project ("Mercur") located in Utah, USA while continuing to advance permitting preparations and ongoing exploration at the Company's Beartrack-Arnett Gold Project ("Beartrack-Arnett") located in Idaho, USA.

 

In connection with the Transaction, Paradigm Capital Inc. and BMO Capital Markets Inc. have agreed to act as lead agents and joint bookrunners, on behalf of a syndicate of agents, in connection with a concurrent offering of subscription receipts of Revival Subco (the "Subscription Receipts") for aggregate gross proceeds of C$7,000,000 (the "Concurrent Offering").

 

Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA. Beartrack-Arnett is the largest past-producing gold mine in Idaho. The Project benefits from extensive existing infrastructure and is the subject of a recent Preliminary Feasibility Study for the potential restart of open pit heap leach gold production operations. Since reassembling the Beartrack-Arnett land position in 2017, Revival Gold has made one of the largest new discoveries of gold in the United States in the past decade.

 

Ensign Minerals Inc. Ensign is a private company existing under the Business Corporations Act (British Columbia) and focused on exploring for precious metals within the Mercur District, Utah, USA. Ensign controls approximately 6,255 hectares in the district where the known mineralization occurs on primarily privately held patented claims. Ensign's property holdings include Mercur, West Mercur, South Mercur and North Mercur.

 

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