Business
Radius Gold arranges $3.5-million flow-through private placement
Radius Gold arranges $3.5-million flow-through private placement
About this update from Radius Gold Inc.
[{"type":"text","content":"\n\n\n\n Nov. 17, 2010 (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\nVANCOUVER, Nov. 17 /CNW/ - Mr. Simon Ridgway reports that Radius Gold\n Inc. has negotiated a non-brokered private placement of up to 5,400,000\n flow-through common shares at $0.65 per share, for gross proceeds of up\n to $3,510,000.\n\n\nThe Company has agreed to allocate a portion of the offering to\n subscribers found by Axemen Resource Capital Ltd. The Company will pay\n finder's fees equal to 5% of subscription amounts found, payable in\n cash or shares, plus finder's warrants in an amount equal to 5% of\n shares subscribed for, with each such finder's warrant exercisable into\n one common share of the Company at a price of $0.70 for 18 months from\n closing.\n\n\nClosing of the financing is anticipated to occur on or before December\n 6, 2010 and is subject to receipt of TSX Venture Exchange acceptance.\n Securities issued under the private placement will be subject to a hold\n period which will expire four months and one day from the date of\n closing.\n\n\nThe net proceeds of the financing will be used for exploration of the\n Company's Sixty Mile property in Yukon territory and its other Yukon\n properties.\n\n\nAbout Radius\n\n\nRadius has been exploring for gold in Latin America for nearly a decade,\n and has assembled interests in a portfolio of promising gold projects\n throughout the region, including carried stakes in two small-scale\n developing gold projects in Guatemala and Nicaragua.  Rad...