Renaissance Gold Inc. (TSXV:REN) announced a non-brokered private placement for 5,716,216 units at a price of CAD 0.25 per unit for gross proceeds of CAD 1,429,054 on April 24, 2019. Each unit consists of one common share and one non-transferable common share purchase warrant. The transaction will involve participation from returning investor, Altius Minerals Corporation (TSX:ALS).

The investor owns 1,083,784 common shares and holds 1.7% stake in the company. Post the completion of the transaction, the investor will own 6,800,000 common shares and will hold 9.9% stake in the company. If the investor exercises all of its warrants, it will own 12,516,216 common shares and will hold 16.9% stake in the company.

Each warrant entitles the holder thereof to purchase one additional common share of the company at a price of CAD 0.50 until expiry five years from the date of closing of the transaction. If the volume weighted average trading price of the common shares of the company is at least CAD 0.75 per share for 20 consecutive trading days in the period commencing twelve months after the closing date, the company will have the right, exercisable within three trading days thereof, to accelerate the expiry date of the warrants to the date which is 30 days after notice is given to the holders of the warrants of the accelerated expiry date. The company reserves the right to increase the size of the transaction or to modify the type, nature and/or price of the units for any reason.