Business
Radius Gold Completes $1.95 Million Private Placement Financing
(TheNewswire) May 30, 2023 – TheNewswire - Vancouver, British Columbia  ...
About this update from Radius Gold Inc.
[{"type":"text","content":"Radius Gold Completes $1.95 Million Private Placement Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n May 30, 2023 –\n \n \n TheNewswire -\n \n \n Vancouver, British Columbia – Radius Gold Inc. (TSXV:RDU)\n(“Radius” or the “Company”) is pleased to announce that it has\nclosed its previously announced non-brokered private placement with\nthe issuance of 11,149,983 units at a price of $0.175 per unit, for\ngross proceeds of $1,951,247.  Each unit consists of one common share\nof the Company and one warrant which entitles the holder to purchase\none common share at a price of $0.35 for a period of 24 months\nfollowing the closing of the private placement.\n \n \n \n \n In connection with the placement, the Company paid\nfinder’s fees totaling $39,627 in cash and issued a total of 226,442\nwarrants with the same terms as the unit warrants.  The net proceeds\nof the private placement are intended to be used to fund drilling and\nexploration efforts on Radius’s Tropico project, Mexico and for\ngeneral working capital.\n \n \n \n \n The common shares and warrants issued on closing are\nsubject to a regulatory resale restriction until September 30, 2023.\n The placement is subject to final approval of the TSX Venture\nExchange.\n \n \n \n \n As certain of the placees are deemed to be “related\nparties” to the Company, the private placement constitutes a\n“related party transaction” within the meaning of TSX Venture\nExchange Policy 5.9 and Multilateral Instrument 61 101 Protection of\nMinority Security Holders in Special Transactions (“MI 61‑101”).\nThe Company has relied on exemptions from the formal valuation and\nminority shareholder approval requirements of MI 61-101 contained in\nsections 5.5(a) and 5.7(1)(a) of MI 61-101.\n \n \n \n \n Radius Gold Inc.\n \n \n \n \n Radius has a portfolio of projects located in Mexico,\nUnited States and Guatemala which it continues to advance, utilizing\npartnerships where appropriate in order to retain the Company’s\ntreasury.  At the same time, management is seeking out additional\ninvestment and project acquisition opportunities across the globe.\n Radius is a member of the Gold Group of companie...