VANCOUVER, British Columbia, May 22, 2026 (GLOBE NEWSWIRE) -- REV Exploration Corp. ("REV" or the "Company") (TSXV:REVX; OTC: REVFF; FSE: 7FF), (TSXV: REVX; OTC:REVFF; FSE: 7FF), FSE: 7FF) is pleased to announce that it has arranged a strategic non-brokered private placement (the "Private Placement") with Mr. Eric Sprott for gross proceeds of $4.0 million. This Private Placement is for 4,210,526 units ("Units") of the Company at $0.95 per Unit through 2176423 Ontario Ltd., a corporation beneficially owned by Mr. Sprott.
Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle Mr. Sprott to purchase one Common Share (each, a "Warrant Share") at a price of $1.20 per Warrant Share for a period of 24 months from the closing date of the Private Placement. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
Mr. Jordan Potts, CEO of REV commented: "Mr. Eric Sprott's continued support is a strong endorsement of REV's strategy and the significant potential of our exploration portfolio. The proceeds from the Private Placement will allow us to accelerate exploration and development activities across our Helium and Natural Hydrogen assets at a time when global demand for secure, domestic sources of these commodities continues to grow. We believe these resources are becoming increasingly strategic in the evolving energy and technology landscape, and REV is well positioned to capture that opportunity."
The Private Placement is subject to the approval of the TSX Venture Exchange and other applicable regulatory approvals and is expected to close on or around May 29, 2026. The Company will pay a finder's fee of 5% in cash in connection with the Private Placement. The Company intends to use the net proceeds from the Private Placement to fund ...
