RTG Mining Inc. Announces Closing of Tranche 2 of a $44m Placement

Subiaco, Western Australia (FSCwire) - RTG Mining Inc. (TSX: RTG, ASX: RTG) (“RTG” or the “Company”) is pleased to announce that it has successfully completed the issue of 286,217,476 Chess Depository Instruments (“Securities”) at a price of A$0.14 per Security to Australian and international institutional and sophisticated investors pursuant to Tranche 2 of the private placement announced by the Company on February 27, 2018 (“Private Placement”).

Tranche 2 of the Private Placement raised proceeds of circa A$40.1 million (before costs).

A Notice of Meeting to approve Tranche 2 of the Private Placement was sent to shareholders on March 22, 2018. Shareholders approved Tranche 2 at the Extraordinary General Meeting on April 24, 2018 (“EGM”).

Hartleys Limited and Trump Securities LLC (“US Placement Agent”) acted as Joint Lead Managers to the Private Placement. After receiving shareholder approval at the EGM, 12,715,201 unlisted advisor options were issued to the US Placement Agent, exercisable at A$0.14 and expiring on 3 May 2023. 

ABOUT RTG MINING INC.

RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange Limited.  RTG is focused on a proposal with a landowner lead consortium to secure an exploration licence at the high tonnage copper-gold Panguna Project in Bougainville PNG and the high grade copper/gold/magnetite Mabilo Project in the Philippines, while also identifying major new projects which will allow the Company to move quickly and safely to production.

RTG has an experienced management team which has to date developed seven mines in five different countries, including being responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Ltd., and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.

ENQUIRIES

Australian Contact                                                      US Contact

President & CEO – Justine Magee                               Investor Relations – Jaime Wells

Tel:                +61 8 6489 2900                                 +1 970 640 0611

Fax:               +61 8 6489 2920                                

Email:             jmagee@rtgmining.com                       jwells@rtgmining.com

CAUTIONARY NOTE STATEMENT

This announcement includes certain “forward-looking statements” within the meaning of Canadian and applicable securities legislation. Statements made or implied relating to the Private Placement and the anticipated closing thereof, the Company's objectives, strategies to achieve those objectives, the Company's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, interpretation of exploration results, plans for further exploration and accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG’s expectations include uncertainties related to market conditions and demand for the Private Placement, the receipt of requisite shareholder and regulatory approvals, fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG’s mineral projects; the need to obtain additional financing to develop RTG’s mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG’s mineral projects and other risks and uncertainties disclosed under the heading “Risk Factors” in RTG’s Annual Information Form for the year ended 31 December 2016 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com. The forward €looking statements made in this announcement relate only to events as of the date on which the statements are made. RTG will not release publicly any revisions or updates to these forward €looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

This announcement has been prepared for publication in Canada and Australia and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or any state securities laws, and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.

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