Revival Gold Completes $29 Million Financing Including Strategic Investments by EMR Capital and Dundee Corporation
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TORONTO, July 31, 2025 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV:RVG) ("Revival Gold" or the "Company") is pleased to announce that it has closed its previously announced financing of common shares (the "Common Shares") for total gross proceeds of approximately C$29.08 million (the "Offerings").
The Offerings were comprised of a strategic non-brokered private placement with EMR Capital Management Limited ("EMR") pursuant to which EMR subscribed for 32,069,531 Common Shares at a price of C$0.48 per Common Share for gross proceeds of US$11.3 million (C$15.4 million) (the "EMR Placement"), and a concurrent non-brokered private placement of 28,517,502 Common Shares at a price of C$0.48 per Common Share for gross proceeds of C$13.68 million (the "Concurrent Offering"). Dundee Corporation, through its wholly owned subsidiary, Dundee Resources Limited ("Dundee"), exercised its participation right and participated in the Concurrent Offering to maintain its equity ownership in Revival Gold. Upon closing, EMR's and Dundee's pro-forma interest in Revival Gold are approximately 11.8% and 5.3% on a non-diluted basis, respectively.
"With this financing, we have significantly enhanced our balance sheet while safeguarding the full value of our gold assets for the benefit of Revival Gold's shareholders. The transaction was structured on terms friendly to our longstanding owners and was achieved without taking on debt, burdening the project with streams or royalties, or compromising the company's future strategic flexibility," said Hugh Agro, President & CEO. "We're pleased to have Dundee continue as a committed shareholder and are excited to welcome EMR as a new strategic equity partner that shares our vision and is aligned with our mission to deliver significant growth and value in gold," Agro added.
In connection with the EMR Placement, the Company entered into an investor rights agreement with EMR pursuant to which the Company granted EMR the right to nominate one director to the board of directors of the Company and customary anti-dilution rights to maintain its equity ownership interest in the Company through the right to participate in future equity financings and a top-up right. EMR's director nominee, and Revival Gold's now newly appointed director, is Mr. Tony Manini, a Co-Founder and Executive Director at EMR.
Tony Manini is a geologist with over 35 years' global resource industry experience. His diverse background covers a wide range of commodities in more than 20 countries and includes technical, commercial, senior management and executive roles in exploration, business development, project evaluation, mine development and operations with Rio Tinto, Oxiana, OZ Minerals, Tigers Realm Group and EMR Capital. Tony has been closely involved in the discovery and development of multiple mines and deposits globally and has listed several highly successful junior exploration companies on the ASX, TSX-V and London AIM. He is a co-founder and Executive Director of resources private equity firm EMR Capital and Chairman of C3 Metals Inc. and Asiamet Resources Ltd. Tony holds an Honors Degree in Geology and is a Fellow of the Australian Institute of Mining and Metallurgy and the Society of Economic Geologists.
With Mr. Manini's appointment, former Revival Gold director Norm Pitcher kindly agreed to step off the board and transition to a senior advisory role with the Company. Mr. Pitcher served as the President & CEO of the predecessor owner of Revival Gold's Mercur gold project and was instrumental in the Company's formation as one of the largest pure gold mine developers in the United States.
"We are thrilled to have Tony join us as we look ahead ...
