Reign Sapphire Corporation (OTCPK: RGNP) (“Reign”) is pleased to announce that Reign has completed its due diligence on the gold exploration license application it intends to acquire from Quad Equities Pty Ltd. ("Quad") and intends to commence drafting and signing of definitive agreements with Quad. Reign previously announced the signing of a non-binding letter of intent with Quad on December 18, 2019, whereby Reign plans to acquire 100% of the equity ownership interests of Quad. Quad currently holds EL006892, which is a gold exploration license application in the Mount Rothwell area in Victoria, Australia (the “Exploration License”). Reign Sapphire Corporation has changed its name to Reign Resources Corporation and intends to focus on gold exploration in Victoria, Australia, with the project associated with the Exploration License being its first Victorian Gold project, with additional projects under review. The project associated with the Exploration License is situated in the Mount Rothwell area in Victoria, Australia, to the East of Steiglitz Golfields. Mount Rothwell is 20 km west of Werribee, and 45 km west of Melbourne. As of January 8, 2020, definitive agreements with Quad have not been executed. Reign will provide details of the Quad acquisition on Form 8-K pursuant to applicable disclosure rules and regulations. About Reign Sapphire Corp Reign Sapphire Corp. (OTCQB: RGNP) is a Los Angeles-based, direct to consumer custom and branded jewelry company selling ethically produced, millennial targeted sapphire jewelry. For more information, visit www.ReignSC.com About Quad Equities Quad Equities is the holder of Gabriel Kushnir Victorian resource investment – The Kushnir Group of Companies holds a portfolio of projects throughout Australia. Formally Kushnir was involved in projects with Barrick Gold of Australia and built a full-service prospecting business that managed its own exploration projects.
