Business
Richmond Minerals Announces $400,000 Non-Brokered Private Placement
TORONTO , March 13, 2014 /CNW/ - Richmond Minerals Inc. ( TSX-V: RMD ) (" Richmond ") ...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\nTORONTO, March 13, 2014 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"Richmond\") is pleased to announce that it intends to complete a non-brokered\n private placement financing for aggregate gross proceeds of up to\n $400,000 (the \"Offering\"). The Offering will consist of the sale of flow-through units (\"FT Units\") at $0.10 per FT Unit and the sale of hard dollar units (\"HD Units\") at $0.07 per HD Unit.\n\n\nEach FT Unit will consist of one common share in the capital stock of\n Richmond (\"Common Share\") issued on a flow-through basis and one Common Share purchase warrant\n (\"FT Warrant\"). Each FT Warrant will entitle the holder purchase one Common Share a\n price of $0.15 per Common Share until the date which is 12 months\n following the closing date of the Offering, and for a price of $0.30\n from the date which is 12 months following the date of closing until\n the date which is 24 months following the date of closing, whereupon\n the FT Warrants expire. Each HD Unit will consist of one Common Share\n and one Common Share purchase warrant (\"HD Warrant\"). Each HD Warrant will entitle the holder to acquire one Common for\n $0.10 for a period of five (5) years from the date of issuance.\n\n\nThe securities issued pursuant to the Offering will be subject to a four\n month and one day statutory hold period. In connection with Offering,\n certain qualified finders may receive a cash commission and broker\n warrants.\n\n\nRichmond intends to use the net proceeds from the Offering to fund\n continued exploration on Richmond's assets and for general working\n capital purposes.\n\n\nThe Offering is subject to certain conditions including, but not limited\n to, the receipt of all necessary approvals, including the approval of\n the TSX Venture Exchange (\"TSX-V\") and applicable securities regulatory authorities. Richmond intends to\n close the Offering on or around March 21, 2014.\n\n\nCAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services\n Provider (as that term is defined in the policies of the TSX-V) accepts\n responsibility for the adequacy or accuracy of this release. This news\n release contains forward-looking information which is not comprised of\n historical facts. Forward-looking information involves risks,\n uncertainties and other factors that could cause actual events,\n results, performan...