ROUYN-NORANDA, QUEBEC–(Marketwired – June 15, 2017) – Radisson Mining Resources Inc. (TSX VENTURE:RDS) (“Radisson“) is pleased to announce that it has closed a private placement totalling $483,000.
The company raised a gross proceed of $ 483,000 through the issuance of 292,000 flow-through shares at a price of $0.25 and 2,562,500 hard units (the “Unit“) at a price of $0.16. Each Unit consists of one class A share of the share capital of Radisson and one half-share purchase warrant (“1/2 Warrant“). Each full Warrant entitles its holder thereof to purchase one class A share at a price of $0.22 for a period of 18 months following the closing date. In accordance with Canadian securities laws, the securities issued under this private placement are subject to a four-month hold period expiring on October 15, 2017.
Consequent to the closing of this private placement a tranche of 625,000 units was issued to SIDEX, s.e.c. for a subscription totalling $ 100,000 under the “2017 Field Action” program.
One director of the corporation made contribution to the private placement for a total amount of $30,000 representing 120,000 flow-through shares.
In connection with this closing, Radisson paid an amount of $ 7,700 in finder’s fee and issued 35,000 finder’s warrants entitling the holder thereof to acquire one class A share of the share capital of Radisson at $0.22 for a period of 18 months following the closing date.
The closing of this private placement is subject to final acceptance by the TSX Venture Exchange.
As a result of the private placement, there are currently 110,448,857 class A shares of Radisson issued and outstanding.
About Radisson Mining Resources Inc.
Radisson is a Quebec-based mineral exploration company. The O’Brien project, cut by the regional Larder-Lake-Cadillac Fault, is Radisson’s main asset. The former O’Brien Mine, is considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; InnovExplo, April 2015).
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For more information on Radisson, please visit our website at www.radissonmining.com.
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Forward-Looking Statements: This press release may contain certain forward-looking information. All statements included herein, but other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com.
President & Chief Executive Officer
819-277-6578
mbouchard@radissonmining.com
www.radissonmining.com