Kinross Gold Corporation announced that it has subscribed for 6,000,000 units of Revolution Resources Corp. pursuant to a private placement.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one common share at an exercise price of CAD$0.75 during the four year period following the closing of the private placement. Assuming the exercise of all warrants held by Kinross, Kinross would hold 9,000,000 common shares, constituting 13.1% of Revolution’s outstanding common shares. The subscription price for the units is CAD$0.50 per unit for an aggregate purchase price of CAD$3,000,000. The private placement is subject to approval by the TSX Venture Exchange.

Kinross is acquiring the Revolution units for investment purposes. Revolution is a TSX-listed gold exploration company based in Vancouver, BC, Canada. The Company’s current exploration activities are focused on two flagship projects located in the Champion Hills district of North Carolina and the newly-optioned Mexican property portfolio of Lake Shore Gold Corp., previously owned by West Timmins Mining Inc.

Bookmark this page!