Mr. Nav Dhaliwal reports
RENEGADE GOLD ARRANGES $3,000,000 PRIVATE PLACEMENT
Renegade Gold Inc. has arranged a private placement of up to 9,375,000 units at 32 cents per unit for total gross proceeds of up to $3-million. Each unit will consist of one common share and one transferable share purchase warrant, with each warrant exercisable into one additional common share for a period of two years from date of issue at a price of 45 cents per share.
All securities issued under the placement will be subject to a hold period expiring four months and one day from the date of issue.
Finders' fees may be payable on all or part of the placement pursuant to the policies of the TSX Venture Exchange.
The company intends to use the net proceeds of the placement to extinguish debt, for exploration work on the company's exploration properties and for general working capital.
The company anticipates closing of the placement (in one or more tranches) as soon as practicable subject to receipt of all necessary regulatory approvals.
The company also advises that the private placement announced on Aug. 4, 2023, has been cancelled.
About Renegade Gold Inc.
Renegade Gold is a growth-focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake mining district of Northern Ontario. As part of its regional-scale consolidation strategy, the company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts.
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