Business
Radisson Mining Resources announces a private placement of $1.5 Million
ROUYN-NORANDA, Quebec, Nov. 09, 2022 (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, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) (“Radisson” or the “Company\") is pleased to announce it has arranged a non-brokered private placement to raise a minimum of $1,500,000. This private placement will consist of a combination of: (i) Quebec flow-through shares (the “Québec FT shares”) priced at CAD$0.17 and (ii) Charity flow-through shares (the “Québec Charity FT Shares”) priced at CAD$0.225. The company is pleased to announce strong commitment for participation from the board of directors the management and existing shareholders of the Company including Michael Gentile, CFA strategic advisor, member of the board of directors and the company's largest shareholder. Use of proceeds The gross proceeds received by the Company from the sale of the Québec 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, 2022, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares. Closing of the offering The Offering is scheduled to close on or about December 2, 2022, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including that of the TSX Venture Exchange. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States. Radisson mining resources Inc. Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, considered to have been ...