Business
Richmond Minerals Announces Closing of Final Tranche of Non-Brokered Offering
Richmond Minerals Announces Closing of Final Tranche of Non-Brokered Offering C...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n \n \n \n Richmond Minerals Announces Closing of Final Tranche of Non-Brokered Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Dec. 1, 2020\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n Trading Symbol TSX(V): RMD\n \n Boerse Frankfurt: WKN A1W98A: R52\n \n \n \n TORONTO\n \n ,\n \n Dec. 1, 2020\n \n /CNW/ - Richmond Minerals Inc. (\n \n TSXV: RMD\n \n ) (\"\n \n \n Richmond\n \n \n \" or the \"\n \n Company\n \n \") is pleased to announce that further to its news releases of  November 3, 2020 and\n \n November 27, 2020\n \n , it has completed the second and final tranche of a non-brokered private placement (the \"\n \n Second Tranche\n \n \n Offering\n \n \") consisting of the sale of 1,916,665 flow-through units (the \"\n \n FT\n \n \n Units\n \n \") at a price of\n \n C$0.06\n \n per FT Unit for aggregate gross proceeds of\n \n C$115,000\n \n .\n \n \n \n \n \n \n \n \n \n Each FT Unit issued pursuant to the Second Tranche Offering consisted of one flow-through common share of the Company and one-half of one common share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \"). Each Warrant shall entitle the holder to purchase one additional common share at a price of\n \n C$0.10\n \n at any time on or before the date which is 24 months after the closing date of the Second Tranche Offering.\n \n \n \n Richmond\n \n intends to use the net proceeds from the Second Tranche Offering for exploration purposes. The proceeds from the sale of the flow-through shares comprising part of the FT Units will be used for \"Canadian exploration expenses\" and will qualify as \"flow-through mining expenditures\" (the \"\n \n Qualifying Expenditures\n \n \"), as defined in subsection 127(9) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ). The Company intends to renounce the Qualifying Expenditures to subscribers of FT Units for the fiscal year ended\n \n December 31, 2020\n \n .\n ...