REBgold Corporation

REBgold Corporation

November 22, 2011 16:06 ET

REBgold Closes First Tranche of Private Placement

TORONTO, CANADA--(Marketwire - Nov. 22, 2011) - REBgold Corporation ("REBgold" or the "Company") (TSX VENTURE:RBG) is pleased to announce that it has closed the first tranche of its non-brokered private placement announced on November 8, 2011, for total gross proceeds of $1,000,000.

Effective November 21, 2011, REBgold issued 20 million units at $0.05 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.10 until November 10, 2016. All securities issued pursuant to the first tranche of the private placement, including the common shares issuable upon exercise of the warrants, are subject to a four- month hold period that expires March 22, 2012.

Proceeds of the Private Placement will be used to start another phase of drilling at the Osikonmaki Property in Finland and for general business development and working capital purposes.

REBgold has received interest for additional funding from existing and new investors and will look to close on further funding over the next few weeks.


REBgold is in the process of acquiring and developing economic interests in gold assets, in particular, where it can utilize its competitive advantages, to create shareholder value.

The Company's key competitive advantages include an experienced board and management team, strategic investor backing and proprietary technology. The Company's bacterial oxidation and bioleaching technologies are commercially proven for the liberation of precious metals from difficult-to-treat sulphide ores and concentrates, with environmental and economic benefits. To date, the Company's BACOX technology has been used at three gold mines located in Western Australia, Tasmania and China.

Shares outstanding 182,258,486

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • REBgold Corporation
    EJ Spencer
    Corporate and Investor Relations Administrator
    416-646-1850 X 242