Renegade Gold raises $4.66 million in private placement

Renegade Gold Inc. (TSXV: RAGE) closed a private placement raising $4.66 million in aggregate gross proceeds, the company announced December 24.

The placement consisted of $4.36 million from non flow-through units priced at $0.23 per unit and $300,000 from flow-through units at $0.23 per unit.

Each non flow-through unit includes one common share and one warrant exercisable at $0.30 per share for three years. Each flow-through unit contains one flow-through share and half a warrant exercisable at $0.30 per share for three years.

The company plans to use proceeds from non flow-through units for debt reduction, exploration expenditures and general working capital. Flow-through proceeds will fund Canadian exploration expenses on the company's Ontario projects.

Renegade issued 1,212,756 finder warrants exercisable at $0.30 per share for two years as payment for finder fees.

Securities issued under the placement are subject to regulatory holds expiring April 24, 2026. Shares from both unit types face additional 12-month contractual restrictions expiring December 23, 2026.

Renegade Gold operates in mineral exploration and development in Ontario's Red Lake Mining District, holding a 1,320 square kilometer land package in the region.

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