Revival Gold Announces Bought Deal Financing

TORONTO - Revival Gold Inc. has entered into an agreement with BMO Capital Markets, under which BMO has agreed to buy on bought deal basis 9,100,000 units. Each Unit consists of one common share of Revival Gold and one-half of one common share purchase warrant of Revival Gold. Each full Warrant will entitle the holder thereof to purchase one Common Share of the Company for a period of 18 months following the Closing Date. The Company has granted the Underwriter an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Underwriter can elect to exercise the Over-Allotment Option for Units only, common shares only, or warrants only, or any combination thereof. The offering is expected to close on or about August 6, 2020 and is subject to Revival Gold receiving all necessary regulatory approvals.

The net proceeds of the offering will be used to fund on-going exploration and development at the Company’s core Beartrack-Arnett Gold Project located in Lemhi County, Idaho and for general corporate purposes.

The Units will be offered by way of a short form prospectus in all provinces of Canada, excluding Quebec and may also be offered by way of private placement in the United States.