Radius Arranges $3.0 Million Private Placement

About this update from Radius Gold Inc.

[{"type":"text","content":"\n\n\n Jun. 1, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, June 1, 2011 /CNW/ - Radius Gold Inc. (TSXV: RDU) is pleased\n to announce that the Company has negotiated, subject to stock exchange\n approval, a non-brokered private placement of up to 5.0 million units\n at $0.60 per unit, for gross proceeds of up to $3.0 million.  Each unit\n will consist of one common share and one-half of a warrant, each whole\n warrant entitling the holder to purchase one additional common share at\n $0.75 exercisable for one year from closing.\n\n\nThe Company has agreed to allocate a portion of the financing to\n subscribers found by Axemen Resource Capital Ltd., an Exempt Market\n Dealer, and may agree to similar allocations to other exempt market or\n investment dealers. The Company will pay finder's fees equal to 5% of\n subscription amounts found, payable in cash or units, plus issue\n finder's warrants in an amount equal to 5% of units purchased, with\n each such finder's warrant to be exercisable into one common share of\n the Company at a price of $0.75 for one year from closing.\n\n\nThe net proceeds of the financing will be used for exploration of the\n Company's properties in Central America, and for general working\n capital purposes.\n\n\nAbout Radius\n\n\nRadius has been exploring for gold in Latin America for nearly a decade,\n and has assembled interest...

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