Business
Radisson announces closing of $6M bought deal private placement including investment from Rob McEwen
ROUYN-NORANDA, Quebec, Aug. 23, 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, Aug. 23, 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 bought deal private placement for aggregate gross proceeds of approximately $6,000,000 (the “Offering”). The Offering was conducted pursuant to the terms and conditions of an underwriting agreement entered into between the Corporation and a syndicate of underwriters led by Laurentian Bank Securities Inc. and Clarus Securities Inc., as co-bookrunner and co-lead underwriters, and included PI Financial Corp. (collectively, the “Underwriters”). The Offering consisted of the issuance of 20,626,666 units of the Company (the “Hard Units”) at a price of $0.15 per Hard Unit, for gross proceeds of $3,094,000, 3,030,200 Federal flow-through Class A shares of the Company (the “Federal FT Shares”) at a price of $0.165 per Federal FT Share, for proceeds of $499,983, and 11,457,224 Quebec flow-through Class A shares of the Company (the “Quebec FT Shares”), at a price of $0.21 per Quebec FT Share, for gross proceeds of $2,406,017 (the Quebec FT Shares together with the Federal FT Shares, the “FT Shares”). Each Hard Unit consists of one Class A share of the Company and one-half of a Class A share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Class A share of the Company for a period of 24 months from the closing of the Offering at a price of $0.21. The company is pleased to announce that Mr. Rob McEwen purchased $500,000 of Hard Units 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 2% of Radisson. “We are pleased to welcome Rob McEwen as a significant new 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 our strategic advisor Mr. Michael Gentile, CFA, by insiders, existing shareholders and several new institutional shareholders. We are fully fu...