REBgold Corporation

REBgold Corporation

February 15, 2012 19:52 ET

REBgold Closes Private Placement

TORONTO, CANADA--(Marketwire - Feb. 15, 2012) - REBgold Corporation (TSX VENTURE:RBG) (the "Company") announces that further to its news release dated November 8, 2011 it has closed its non-brokered private placement and has issued a total of 20,000,000 units at a price of $0.05 per unit to raise gross proceeds of $1,000,000. Each unit consists of one common share and one non-transferable share purchase warrant which entitles the holder to purchase one additional common share of the Company at a price of $0.10 per share. All securities issued are subject to a four-month hold period that expires on March 22, 2012, with the five-year warrants expiring November 10, 2016.

The Company intends to utilize the proceeds from the private placement to continue drilling at the Rantasalmi Project in Finland, to expand the drill program where there are numerous targets along strike and down dip from existing resources and other areas of identified mineralization, and for general working capital.

There were no finder's fees payable in connection with this private placement offering.

Completion of the private placement is subject to final approval by the TSX Venture Exchange.


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
    416-646-1850 X 242