Reunion Gold corporation

Published : November 18th, 2013

Corporate Update

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Keywords :   Aluminum | Copper | Gold | Iron | Manganese | Market |
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Reunion Gold Corporation
TSX VENTURE: RGD
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November 18, 2013
Reunion Gold Corporation-Corporate Update
LONGUEUIL, QUEBEC--(Marketwired - Nov. 18, 2013) - Reunion Gold Corporation (TSX VENTURE:RGD) (the "Company" or "Reunion") announces plans to replace existing loans from two senior executives of the Company with convertible notes with aggregate principal amounts of $US 212,000 and $C 1,007,000 (the "Convertible Notes"). The Convertible Notes will bear interest at the rate of 1% per month until maturity. All of the outstanding principal and interest accrued will be repayable on the earlier of the completion of a minimum financing by Reunion or upon demand at any time after June 30, 2014. The Convertible Notes will be convertible into Reunion common shares at maturity, at the option of the holder. Subject to the approval of the TSX Venture Exchange ("TSXV"), the conversion price for the outstanding principal of the Convertible Notes is C$0.14, and the conversion price for accrued interest will be equal to the Market Price (as defined in the policies of the TSXV) of Reunion shares at the time of conversion of the interest. Reunion will have the right to redeem the Convertible Notes at any time prior to maturity.

The Convertible Notes will be issued in reliance upon prospectus and private placement exemptions under National Instrument 45-106 - Prospectus and Registration Exemptions and the Convertible Notes and underlying securities issuable upon conversion will be subject to a four month hold period. The issuance of the Convertible Notes is subject to the approval of the TSX Venture Exchange.

The issuance of the Convertible Notes constitutes a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the subscribers are two directors and officers and the holding company of a director and officer of Reunion. The issuance of the Convertible Notes is exempt from the related party valuation and minority security holder approval requirements of MI 61-101 on the basis that the Convertible Notes have an aggregate fair market value of less than 25% of the market capitalization of Reunion.

About the Company

The Company through its 100% owned subsidiary Reunion Manganese Inc. has assembled a large, strategic land position to conduct exploration and development activities for manganese in the North West District of Guyana. The Company announced an initial resource estimate for its Matthews Ridge manganese project in February 2013 and the results of a pre-feasibility study in July 2013. Manganese is the fourth largest metal consumed in the world, behind iron, aluminum and copper. It is a key component in steel and iron production with no viable substitute.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Additional information about the Company is available through regular filings and press releases on SEDAR (www.sedar.com) and on the Company's website at www.reuniongold.com.

CONTACT INFORMATION:
Reunion Gold Corporation
James Crombie
President and Chief Executive Officer
450.677.2585
Fax: 450.677.2601
info@reuniongold.com
www.reuniongold.com
INDUSTRY: Manufacturing and Production - Mining and Metals

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Reunion Gold corporation

CODE : RGD.V
ISIN : CA76131P1062
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Reunion Gold is a gold exploration company based in Canada.

Reunion Gold holds various exploration projects in Guyana and in Suriname.

Its main exploration properties are ANTINO 1 in Suriname and MATTHEW RIDGE in Guyana.

Reunion Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 91.9 millions as of today (US$ 66.7 millions, € 62.6 millions).

Its stock quote reached its highest recent level on November 29, 1996 at CA$ 9.28, and its lowest recent point on May 06, 2016 at CA$ 0.01.

Reunion Gold has 187 450 000 shares outstanding.

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Financings of Reunion Gold corporation
4/20/2011Announces Closing of C$40,250,000 Bought Deal Financing
6/22/2010Closing of 1st Tranche of Private Placement
5/28/2010Closing of Tranche 1 of Private Placement
Financials of Reunion Gold corporation
8/28/2008announces its Financial Results for the First Quarter Ended ...
6/23/2008announces its Financial Results for the Year Ended March 31,...
2/27/2008Announces its Financial Results
Project news of Reunion Gold corporation
3/28/2011(Matthew Ridge)Announces Signing of Mineral Agreement in Guyana
3/1/2011(Matthew Ridge)Trenching Program reveals continuous manganese mineralizatio...
Corporate news of Reunion Gold corporation
8/17/2015Reunion Gold announces Filing of Year-End Financial Statemen...
7/28/2015Reunion Gold Announces Filing of Year-End Financial Statemen...
1/20/2014Signs a Memorandum of Understanding with National Energy Cor...
1/20/2014Initiates Scoping Study for Production of Silico-Manganese A...
11/18/2013Corporate Update
9/16/2013Receives $5=2E2 Million on Termination of the Lely Option Ag...
7/12/2013Announces Mineral Reserves andPositive Pre-Feasibility Study...
6/21/2013Files its Annual Financial Statements and Provides an Update...
4/8/2013Files Technical Report
2/21/2013Announces a Significant Resource Estimate for its Matthews R...
2/13/2013Provides an Update on Its Matthews Ridge Project Including R...
10/31/2012Reports Further Drilling Results and a New Discovery from it...
9/17/2012Reports Further Drilling Results From its Matthews Ridge Man...
7/6/2011/PRESS RELEASE
7/6/2011Announces Grant of Reconnaissance Licences in Guyana
6/1/2011Trenching Program Extends Matthews Ridge Manganese Mineralis...
4/28/2011Grants Stock Options
3/3/2011Reunion Gold: Request for Information - R#: 30H.J1P.HK0.VT...
7/13/2010Repays Convertible Loan
6/18/2008APPROVAL OF ACQUISITION OF LELY MOUNTAIN PROJECT IN SURINAME
1/7/2008Completes Early Warrant Exercise Incentive Program
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