Twitter Facebook LinkedIn YouTube

Private Placement: Reunion Gold (TSXV:RGD)

Video Platform Video Management Video Solutions Video Player

The company is looking to raise gross proceeds of up to $6 million from the placement of up to 92.3 million units priced at $0.065 per unit. The units consist of 1 share and one-half warrant, with each full warrant exercisable at $0.12 for 24 months.

Additional Information:

Company: Reunion Gold (
Website: http://www.ReunionGold.com
Stock Symbol: TSXV: RGD
Date Published: Apr 19, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Reunion Gold has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $6 million from the placement of up to 92.3 million units priced at $0.065 per unit.

The units consist of 1 share and one-half warrant, with each full warrant exercisable at $0.12 for 24 months.

The shares are currently trading at $0.07.

Dundee Corporation, currently a 14 % shareholder, will be purchasing $1 million of the offering, along with the company’s Executive Chairman David Fennell who has also indicated his intention to purchase $1 million of the offering.

Reunion Gold has a portfolio of projects in the Guiana Shield in South America, a geological entity that includes much of French Guiana, Suriname, Guyana, northern Brazil and Venezuela.

Net proceeds of the offering will be used for exploration work to continue trenching and drilling at its Oko West Project in Guyana and for general working capital purposes.

A total of 49 trenches with a combined length of approximately 6,150 meters have been completed, with assay results reported from 33 trenches at its Oko West Project, which is part of a group of permits in the Cuyuni River basin covering an area of 9,420 acres where the company has an option to acquire a 100% ownership interest.

The company recently reported results from the last eight trenches, with the best gold intercepts shown in this table, including 4 meters of 6.28 g/t, 6 meters of 5.82 g/t, 12 meters of 2.44 g/t, 36 meters of 2.06 g/t, and 69 meters of 5.98 g/t gold.

On February 18, 2021, the company also reported assay results from its initial 1,000-meter diamond drilling program, confirming the downward extension of gold mineralization in the weathered bedrock.

Carlos Bertoni, Acting CEO, stated: “The trenching and drilling work done so far at the Oko West project confirms significant gold mineralization hosted by three shear structures extending laterally for hundreds of meters and downwards into saprolite. Gold mineralization shows very good continuity within these shear structures, as shown in trenches 26, 43 and 44. We are very encouraged by this significant discovery and are at the final stages of designing a comprehensive exploration program to estimate the volume of mineral resources in saprolite.”

For more information, please visit the company’s website at www.ReunionGold.com, contact Paul Fowler, Manager, Corporate Development, at 450-677-2585 or by email at info@ReunionGold.com.

I’m Megan Edwards for Investmentpitch Media