Business
Radisson Mining Announces Upsize of its Previously Announced Bought Deal Private Placement to $6 Million
ROUYN-NORANDA, Quebec, Aug. 07, 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. 07, 2019 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) (“Radisson” or the “Company\") is pleased to announce that due to investor demand in connection with its previously announced bought deal private placement the Company and a syndicate of underwriters led by Laurentian Bank Securities Inc. and Clarus Securities Inc., as co-bookrunner and co-lead underwriters (together the “Underwriters”) have agreed to increase the size of the previously announced offering to $6,000,000 (the “Offering”). The Offering will now consist of the issuance of a maximum of $3,094,000 of units of the Company (the “Hard Units”) at a price of $0.15 per Hard Unit and the remaining from the sale of Class A shares of the Company that qualify as “flow-through Class A shares” in any combination of: (i) up to a maximum of $500,000 of Federal flow-through Class A shares of the Company (the “Federal FT Shares”) at a price of $0.165 per Federal FT Share, and (ii) Quebec flow-through Class A shares of the Company (the “Quebec FT Shares”, at a price of $0.21 per Quebec FT Share (together with the Federal FT Shares, the “FT Shares”)). Each Hard Unit will consist 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. “We are extremely pleased with the growing demand from investors resulting in an upsize for this private placement,” comments Mario Bouchard, President & CEO of Radisson. “The offering was very well supported by insiders, existing shareholders and several new institutional shareholders as we continue to execute our vision of delivering value to our shareholders through the exploration of the O’Brien gold project.” The net proceeds from the sale of the Hard Units will be used to fund the exploration and development of the 100% owned O’Brien Gold project and for general corporate and working capital purposes. 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 “flow-through mining expenditures” (as such terms are defined in the...