Kinross Gold to Invest in Wyoming-Focused Gold Explorer

SEATTLE (Scrap Monster): Kinross Gold has made an investment in Relevant Gold- a Wyoming-focused gold explorer. The company purchased 5.1 million shares of Relevant Gold at a price of C$0.30 per share, for a total of C$1.53 million.

The shares acquired by Kinross account for 9.9% of Relevant Gold’s total equity capital. Furthermore, Kinross will have the right to purchase up to 19.9% of the equity capital, as per agreement. The transaction came with warrants to buy 50% of the common shares at C$0.35 per share.

Last month, Relevant Gold had completed a private placement, by which it sold approximately 5.78 million units at C$0.25 per unit for a total of C$1.44 million. The proceeds from both placements will be utilized to boost the company’s exploration of mineral properties, located in west-central Wyoming, which comprises of its flagship Golden Buffalo project.

Rob Bergmann, CEO, Relevant Gold, in a news release, said that the company is thrilled to welcome Kinross as a major shareholder and strategic partner. The strategic investment by Kinross demonstrates the company’s confidence in its exemplary exploration and execution capabilities.