Reunion closes $11.5 million bought deal private placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR BROADCASTING IN THE UNITED STATES

LONGUEUIL, Quebec, Feb. 24 10, 2022 (GLOBE NEWSWIRE) — Reunion Gold Corporation (TSXV:RGD) (the “Company”), is pleased to announce that it has closed its previously announced private placement of common shares (the “Offering”) with Paradigm Capital. Inc. and Dundee Goodman Merchant Partners (the “Lead Underwriters”) on behalf of a syndicate of underwriters comprising Sprott Capital Partners LP, Cormark Securities Inc. and BMO Capital Markets. (collectively with the Lead Underwriters, the “Underwriters”). Pursuant to the Offering, the Company issued 65,715,349 common shares (the “Common Shares”) of the Company at a price of $0.175 per Common Share, including 8,570,349 Common Shares issued following the exercise of the underwriters’ over-allotment option, for total gross proceeds to the Company of $11,500,186. As compensation, the Company paid the underwriters cash compensation of approximately $680,000 and issued to the underwriters an aggregate of 3,894,064 non-transferable compensation options (the “Compensation Options”). Each compensation option entitles its holder to purchase one common share at an exercise price of $0.175 per common share until February 24, 2024.

The net proceeds of the offering will be used primarily to accelerate exploration activities, including drilling and trenching on the OKO West project, and for general corporate purposes. All securities issued under the Offer are subject to a legal hold period of four months, which expires on June 25, 2022.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any United States securities law, and may not be offered or sold in the United States. without registration under United States securities law and all applicable state securities laws or without compliance with the requirements of an applicable exemption therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, and there will be no sale of such securities in any jurisdiction in which such offer, solicitation or sale would be illegal.

About Reunion Gold Corporation

Reunion Gold Corporation is a leading gold explorer in the Guiana Shield, South America, with a portfolio of projects in Guyana, Suriname and French Guiana. In 2021, the Company made an exciting new gold discovery at its Oko West project in Guyana, where to date it has outlined gold mineralization on the Kairuni Zone over a strike length of 2,500 meters and to a depth of 220 meters. A 15,000 meter Phase 4 drilling program is currently underway with the objective of releasing an initial resource in the second half of 2022. The Company’s common shares are listed on the TSX Venture Exchange under the symbol “RGD “. Additional information about the Company is available on SEDAR (www.sedar.com) and on the Company’s website (www.reuniongold.com).

Forward-looking statements

This press release contains “forward-looking information” which may include, but is not limited to, statements regarding the use of proceeds from the Offering. Forward-looking statements are based to the opinions and estimates of management like of the Dated Phone statements are made and are based on various assumptions. We do not intend and undertake no obligation to update these forward-looking statements and shareholders are cautioned not to place undue reliance on these statements. statements.

For more information, please contact:
REUNION GOLD SOCIETY
Carlos H. Bertoni, interim CEO, or
Doug Flegg, Business Development Advisor Phone: +1 450.677.2585
Email: [email protected]

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