REV Closes Deal With Major Gold on Quebec Mining Claims
REV closes Quebec gold asset sale, pocketing Major Gold stock as Sprott doubles down with fresh $4M injection
On May 22, 2026, REV closed the sale of certain Quebec mining claims to Major Gold Corp. (MGC) for $1.24 million in share consideration, retaining a meaningful equity position. The transaction, originally announced in February 2026, was part of a strategic pivot to focus on helium and natural hydrogen assets. Additionally, the same day, REV arranged a $4 million non-brokered private placement with Eric Sprott—priced at $0.95 per unit with half-warrants—strengthening its treasury for exploration. The sale to MGC was the final step of a previously disclosed asset monetization, while the Sprott placement is a follow-up financing to accelerate the West Butte and Aden Dome projects.
The closing of the Quebec gold claims sale is a routine, expected event; no material surprise. The terms were already outlined in the February 19 definitive agreement, and the closing merely formalizes the transfer. The accompanying $4 million Sprott placement, though positive, is incremental. Sprott has been a lead investor since January 2026 and already held >10% of the company. The financing does not signal a game-changing discovery or a dramatic shift in strategy—it funds ongoing exploration that the market had already priced in given the strong helium thesis. The overall news reinforces the company’s strategy but does not alter the fundamental outlook.
REV Exploration Corp. (TSX‑V: REV) is an exploration company now focused on helium and natural hydrogen assets in Alberta and Montana. Its flagship is the Aden Dome project (100% owned, 18 km² on the Alberta‑Montana border), a drill‑ready natural hydrogen prospect with secondary helium potential. REV also holds the West Butte project in Montana (Sweet Grass Hills corridor) and a ~52,000‑ha gold portfolio in Quebec’s Chibougamau camp, which is being monetized via the MGC transaction. The company’s strategic pivot away from gold into clean‑energy gases began in mid‑2025, and it holds 6 million shares (~5%) of MAX Power Mining Corp., a natural hydrogen pure‑play.