(RV-V) Kinross Gold (K-T) acquires 3.57 million Revolution Resources units
April 5, 2013 - News Release
Kinross Gold Corp. has subscribed for 3,571,428 units of Revolution Resources Corp., pursuant to a non-brokered private placement. Each unit comprises one common share and one-half of one share purchase warrant, where each whole warrant will entitle the holder to acquire one common share at a price of 12.5 cents for a period of two years following the closing of the private placement. After giving effect to the private placement, Kinross will hold 9,571,429 common shares and 4,785,714 share purchase warrants of Revolution, constituting approximately 9.67 per cent of Revolution's issued and outstanding common shares on a non-diluted basis, and 11.67 per cent on a fully diluted basis. The subscription price for the units is seven cents per unit for a total purchase price of $249,999.96.
The investment in Revolution is part of Kinross's strategy to increase its exposure to quality exploration opportunities by investing in junior resource companies. Revolution is a Vancouver-based junior resource company focused on gold and silver exploration in Mexico and the United States. |
