Business
Radisson Mining Announces $20 Million Bought Deal Financing
TORONTO, May 5, 2026 /CNW/ - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQX: RMRDF) ("Radisson" or the "Company") is pleased to announce that it has
About this update from Radisson Mining Resources Inc.
[{"type":"text","content":" TORONTO, May 5, 2026 /CNW/ - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQX: RMRDF) (\"Radisson\" or the \"Company\") is pleased to announce that it has entered into an agreement with ATB Cormark Capital Markets to act as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the \"Underwriters\") in connection with a \"bought deal\" private placement of 14,493,000 Class A common shares of the Company that will each qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the \"FT Shares\"), at a price of $1.38 per FT Share, for gross proceeds of $20,000,340 (the \"Offering\"). In addition, the Company will grant the Underwriters an option (the \"Option\") to increase the size of the Offering by up to an additional $3,000,120, on the same terms and conditions as the Offering, by giving written notice of the exercise of the Option, or a part thereof, to the Company at any time up to 48 hours prior to Closing Date (as defined below). In the event the Option is fully exercised, the maximum gross proceeds raised under the Offering will be C$23,000,460. The Company will use an amount equal to the gross proceeds from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada) (the \"Tax Act\"), to further exploration and development of the O'Brien Gold Project, including deep drilling beyond the scope of the current program, which expenses will be (or deemed to be) eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" (as both terms are defined in the Tax Act) (the \"Qualifying Expenditures\"), on or before December 31, 2027, and to renounce all such Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2026. In the event the Company is unable to renounce Qualifying Expenditures effective on or prior to December 31, 2026 for each FT Share purchased in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares, the Company will indemnify each FT Share subscriber, as applicable, for the additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed. In consideration for the services provided to the Company in connection with the Offering, th...