REV Exploration arranges $4 million private placement with Eric Sprott

REV Exploration Corp. (TSXV: REVX) announced it has arranged a $4 million non-brokered private placement with Eric Sprott through his corporation 2176423 Ontario Ltd.

The private placement consists of 4,210,526 units priced at $0.95 per unit. Each unit includes one common share and one-half of a common share purchase warrant. The warrants allow Sprott to purchase additional shares at $1.20 each for 24 months following the closing date.

The transaction is expected to close around May 29, 2026, subject to TSX Venture Exchange approval and other regulatory approvals. All securities will be subject to a four-month-plus-one-day statutory hold period.

REV will pay a 5% cash finder's fee in connection with the placement. The company plans to use proceeds for exploration activities and general working capital purposes.

The arrangement constitutes a related party transaction under Multilateral Instrument 61-101 since Sprott currently holds more than 10% of REV's outstanding common shares. The company will rely on exemptions from formal valuation and minority shareholder approval requirements, as the transaction value will not exceed 25% of the company's market capitalization.

REV CEO Jordan Potts stated the placement will allow the company to accelerate exploration and development activities across its helium and natural hydrogen assets.

REV Exploration is a mineral exploration company with assets in helium and natural hydrogen sectors in Western Canada and the Western United States. The company holds petroleum and natural gas leases along the Alberta-Montana border and owns 6 million shares of MAX Power Mining Corp.

You May Also Be Interested In

• Parabilis Medicines closes $770.5 million IPO and concurrent private placement
• Class 1 Nickel completes private placement and debt-to-equity conversion
• Supermicro prices $7 billion equity financing to fund AI server orders