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Radisson Announces closing of a $5 Million Private Placement, including increased participation from M. Rob McEwen
ROUYN-NORANDA, Quebec, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) (“Radisson” or the “Company") is pleased to ann
About this update from Radisson Mining Resources Inc.
[{"type":"text","content":" ROUYN-NORANDA, Quebec, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) (“Radisson” or the “Company\") is pleased to announce that it has closed its previously announced private placement for aggregate gross proceeds of $5,000,000 (the “Offering”). The Offering was conducted pursuant to the terms and conditions of an agency agreement entered into among the Company and a syndicate of agents led by Clarus Securities Inc. and Laurentian Bank Securities Inc., as co-lead Agents, and including Canaccord Genuity Corp., Eight Capital Corp., and PI Financial Corp. (together the “Agents”). The Offering consisted of the issuance of 13,391,230 Class A shares in the capital of the Company, each of qualify as a “flow-through share” as part of a charitable donation arrangement (the “Charity FT Shares”) at a price $0.297 per Charity FT Share for gross proceeds of $3,977,195.31 and 4,011,000 Class A shares in the capital of the Company, each of qualify as a “flow-through share” (the “Quebec FT Shares”) at a price of $0.255 per Quebec FT Share for gross proceeds of $1,022,805 (together with the Charity FT Shares, the “FT Shares”). The Company is pleased to announce an investment from Mr. Rob McEwen for the second time in 2019, as he purchased 3,030,000 Charity FT Shares through Evanachan limited, an entity owned by Mr. McEwen. Mr. McEwen is the Chairman and Chief Owner of McEwen Mining Inc. and is the founder and former Chairman and CEO of Goldcorp Inc., recently acquired by Newmont. His investment represents approximately 3.36% of Radisson. “We are pleased to have Rob McEwen actively participating to our financing activities as a significant shareholder. Mr. McEwen has a very successful track record both as an operator and investor into high-grade gold opportunities” commented Mario Bouchard, President & CEO of Radisson. “The offering was also very well supported by several institutional shareholders and insiders of the Company. After closing this private placement our treasury stands at approximately $9m. Moving ahead into 2020, our Company is positioned to conduct the largest exploration program ever carried in a single year at the O’Brien gold project”. The gross proceeds received by the Company from the sale of the FT Shares will be used to incur Canadian Exploration Expenses (“CEE”) that are “fl...