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TORONTO, May 8, 2023 /CNW/ - Revival Gold Inc. (TSXV: RVG) ("Revival Gold" or the "Company"), is pleased to announce that it has entered into an agreement with Beacon Securities Limited and Paradigm Capital Inc. (the "Agents") to act as co-lead agents and joint bookrunners in connection with a "best efforts" private placement of a minimum of 9,616,000 units of the Company (the "Units") at a price of C$0.52 per Unit (the "Issue Price") for minimum gross proceeds to the Company of approximately C$5 million and a maximum of up to 11,846,153 Units for maximum gross proceeds of up to C$6.16 million (the "Offering"), representing the  maximum amount that may be issued under Part 5A (the "Listed Issuer Financing Exemption") of National Instrument 45-106 – Prospectus Exemptions ("NI 45-106").