Business
Radisson Mining Announces Upsize of its previously announced Private Placement to $2.3 Million
ROUYN-NORANDA, Quebec, June 15, 2023 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) (“Radisson” or the “Corporation”) is pleased to
About this update from Radisson Mining Resources Inc.
[{"type":"text","content":" ROUYN-NORANDA, Quebec, June 15, 2023 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) (“Radisson” or the “Corporation”) is pleased to announce that due to investor demand in connection with its previously announced private placement (the “Offering”) it has upsized the offering for aggregate gross proceeds of $2,300,000. The Upsized offering will consist of any combination of: (i) units of the Corporation (the “Hard Units”) at a price of $0.18 per Hard Unit, (ii) class A shares of the Corporation to be issued as \"flow-through shares\" within the meaning of the Income Tax Act (Canada) (the “Tax Act”) and to be sold to purchasers in all provinces and territories of Canada excluding Quebec (the “Federal FT Shares”) at price of $0.205 per Federal FT Share, (iii) class A shares of the Corporation to be issued as \"flow-through shares\" within the meaning of the Tax Act and to be sold to purchasers in the province of Quebec (the “Quebec FT Shares”) at a price of $0.235 per Quebec FT Share, and (iv) flow-through units to be sold to charitable purchasers (the “Charity FT Units”) at a price of $0.305 per Charity FT Unit. Each Hard Unit will consist of one Class A common share of the Corporation and one-half of a Class A common share purchase warrant (each whole class A purchase warrant, a “Warrant”). Each Charity FT Unit will consist of one class A of the Corporation to be issued as a \"flow-through share\" within the meaning of the Tax Act and one-half of a Warrant. Each Warrant will entitle the holder thereof to acquire one additional Class A class A of the Corporation for a period of 18 months from the closing of the Offering (the “Closing”) at a price of $0.27. The Corporation is pleased to announce the board of directors, management, and existing shareholders of the Corporation plan to participate in the offering. Use of proceeds The gross proceeds received by the Corporation 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 Income Tax Act (Canada)) on the O’Brien gold project in the Province of Québec, which will be renounced to the subscribers with an effective date no later than December 31, 2023, in the aggregate amount of not less than the total amount of the gross proceeds...