REBgold Corp., a Toronto-based company which acquires and develops interests in gold assets, has close the first tranche of an investment received from British mining-focused private investment firm Baker Steel Capital Managers. The investment is part of a deal valued at up to $2.5 million. REBgold will use the proceeds to investigate new opportunities, to continue investing in gold projects in Finland and for working capital.
REBgold Closes First Tranche of Private Placement
TORONTO, ONTARIO–(Marketwired – April 30, 2013) – REBgold Corporation (“REBgold” or the “Company”) (TSX VENTURE:RBG) announces that, further to its news release dated April 16, 2013, it has closed the first tranche of its non-brokered private placement by issuing $510,00 principal amount of 8% unsecured convertible debentures to investment funds controlled by Baker Steel Capital Managers LLP.
The Company expects to complete a second tranche of the private placement in the next few weeks and the final tranche after the REBgold’s annual and special shareholder meeting to be held on June 17, 2013.
REBgold intends to use the proceeds from the Private Placement to investigate and secure additional project opportunities, to continue investing in its highly prospective Finnish projects and for general working capital.
REBgold is in the process of acquiring and developing economic interests in gold assets, in particular, where it can utilize its competitive advantages, to create shareholder value. The Company’s key competitive advantages include an experienced board and management team, strategic investor backing and proprietary technology. The Company is currently developing projects in Finland and evaluating several projects elsewhere.
The statements made in this press release include forward-looking statements, including statements regarding the Company’s intention to carry out the Private Placement and the anticipated terms thereof, that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof an, except as required by applicable law, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations and projections.
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.
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