Renegade Gold closes $4.66-million private placement

Executive Summary

• Renegade Gold Inc. has closed a non-brokered private placement raising aggregate gross proceeds of $4,664,270.
• The financing consists of two tranches: $4,364,270 from non-flow-through units and $300,000 from flow-through units, both priced at $0.23 per unit.
• Proceeds are designated for debt extinguishment, exploration expenditures, and general working capital, with specific flow-through mining expenditures for Ontario projects.

Key Details

• Total Gross Proceeds: $4,664,270.
• Non-Flow-Through Units (NFT):
  • Quantity: 18,975,087 units (calculated as $4,364,270 / $0.23).
  • Price: $0.23 per unit.
  • Gross Proceeds: $4,364,270.
  • Composition: Each unit consists of one common share and one transferable share purchase warrant.
  • Warrant Terms: Exercisable into one share for three years from issue at an exercise price of $0.30 per share.
• Flow-Through Units (FT):
  • Quantity: 1,304,348 units (calculated as $300,000 / $0.23).
  • Price: $0.23 per unit.
  • Gross Proceeds: $300,000.
  • Composition: Each unit consists of one flow-through share and one-half of one transferable share purchase warrant.
  • Warrant Terms: Each whole warrant is exercisable into one non-flow-through share for three years from issue at an exercise price of $0.30 per share.
• Finder’s Fees:
  • Issued 1,212,756 non-transferable share purchase warrants in payment of finders' fees.
  • Warrant Terms: Exercisable into one share for two years from issue at an exercise price of $0.30 per share.
• Use of Proceeds:
  • NFT Proceeds: Extinguish debt, exploration expenditures, and general working capital.
  • FT Proceeds: Incur Canadian exploration expenses qualifying as flow-through mining expenditures related to projects in Ontario.
• Hold Periods:
  • Regulatory Hold: All securities subject to regulatory holds expiring on April 24, 2026.
  • Contractual Hold: Shares underlying NFT and FT units (excluding warrants) subject to a 12-month contractual hold period expiring December 23, 2026.