02:08 PM EDT, 07/31/2025 (MT Newswires) -- Revival Gold ( RVLGF ) on Thursday said it closed a private placements of shares that raised $29.08 million.

The company said the offerings comprised of a strategic non-brokered private placement with EMR Capital Management which subscribed for 32.1-million shares priced at $0.48 apiece for $15.4 million, and a concurrent non-brokered private placement of 28.5-million shares at $0.48 apiece for $13.68 million.

Dundee Corp (DC-A.TO), through its Dundee Resources unit, participated in the concurrent offering to maintain its equity ownership in Revival. EMR's and Dundee's pro-forma interest in the company are now about 11.8% and 5.3% on a non-diluted basis, respectively.

The company also entered into an investor rights agreement with EMR which granted EMR the right to nominate one director to its board and customary anti-dilution rights. Tony Manini, a co-founder and executive director at EMR was nominated by EMR and appointed by Revival to its board as former director Norm Pitcher stepped off the role and transitioned to a senior advisory role.

Proceeds will be used to advance its ongoing exploration and development of its Mercur and Beartrack-Arnett projects and for general working capital and corporate purposes.

Shares of the company were last seen up $0.01 to $0.50 on the TSX Venture Exchange.

Price: 0.50, Change: +0.01, Percent Change: +2.04