RCG Announces Proposed Private Placement


VANCOUVER, July 17, 2016 /CNW/ - Resource Capital Gold Corp., TSXV: RCG ("RCG" or the "Company") is pleased to announce that it has finalized the terms and conditions of a non-brokered equity private placement (the "Offering"). The Offering will consist of the issuance of up to 25,000,000 common shares ("Common Shares") of the Company at a price of $0.12 per Common Share for aggregate gross proceeds to the Company of up to $3,000,000.

The Common Shares issuable pursuant to the Offering will be subject to a hold period expiring four months and one day following the closing of the Offering. In connection with the Offering, certain shareholders, including an insider of the Company, plan to complete a "gypsy swap" whereby they would sell up to 12,500,000 Common Shares of the Company in pre-arranged trades over the facilities of the TSX Venture Exchange (the "Exchange"), and then purchase up to 12,500,000 Common Shares under the Offering subject to regulatory approval, including final approval of the Exchange.

The Company may pay finders' fees in cash of up to 5% of the gross proceeds raised pursuant to the Offering and issue finders up to 1,150,000 Common Shares.

The Company intends to use the proceeds of the private placement to advance the recently announced Corcoran Canyon Silver-Gold Project through the completion of a 43-101-compliant resource calculation; extensional and infill drilling, metallurgical test work and other pre-feasibility study work.

RCG is also actively assessing additional precious metals projects in line with the Company's previously stated goal of creating a broad-based precious metals company focused on the Americas. Both development stage and producing assets are being reviewed, and RCG expects to make an announcement on the acquisition of one or more other projects in the near term.

The Offering is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

On behalf of the Board of Directors of Resource Capital Gold Corp.

George S. Young
Chairman and CEO

Neither the 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.

Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws.  Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.  Forward-looking information in this news release include statements about the completion of the private placement and the use of proceeds therefrom.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

SOURCE Resource Capital Gold Corp.

For further information: George S. Young at (806) 886-3317

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