REV Arranges $4 Million Private Placement with Eric Sprott
Sprott’s repeat conviction at a near triple premium signals REV’s helium-hydrogen pivot is gaining serious market traction.
REV Exploration Corp. has arranged a $4.0 million non-brokered private placement with Eric Sprott (via 2176423 Ontario Ltd.), issuing 4,210,526 units at $0.95 per unit. Each unit consists of one common share and one-half warrant (full warrant exercisable at $1.20 for 24 months). Proceeds will fund accelerated exploration of the company’s helium and natural hydrogen assets. The placement is expected to close on or around May 29, 2026.
This is a material positive event. Eric Sprott, already a 12.6% holder after his January 2026 lead order at $0.30, is doubling down at a substantially higher price — $0.95 versus $0.30 only four months earlier. The almost tripled entry point underscores genuine confidence in the company’s evolving strategy and asset quality, and it validates management’s pivot toward helium/natural hydrogen in the U.S. Northern Great Plains. The $4 million injection significantly strengthens the treasury without heavily diluting existing holders relative to the recent market price. While dilutive, the structure (half warrants with a $1.20 exercise) offers upside alignment. Importantly, this is a follow-on investment, not Sprott’s first, so it does not qualify as a game-changer, but it materially improves the company’s funding position and market perception at a critical juncture as drilling programs approach.
REV Exploration Corp. started with gold assets in Quebec’s Chibougamau Camp and natural hydrogen permits in Saskatchewan. Under CEO Jordan Potts, the company has dramatically pivoted to helium and natural hydrogen exploration, primarily in Montana and southern Alberta. The flagship Aden Dome Project spans ~18 km² (plus expanded Montana acreage) on the Alberta-Montana border, targeting natural hydrogen in deep basal Cambrian sandstone and helium-rich zones in Devonian carbonates. The West Butte Project (Montana) adds a second helium/hydrogen drill target, with a 3D seismic survey planned as the final step before drilling. REV also retains a ~5% stake in MAX Power Mining Corp. (6 million shares valued at ~$15.6 million as of May 15, 2026) and holds a majority equity position in Major Gold Corp. following the sale of its Chibougamau gold assets — providing potential future value through an MGC listing or share dividend.