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Richmond Minerals Announces Non-Brokered Private Placement Upsize and Closing of First Tranche
Richmond Minerals Announces Non-Brokered Private Placement Upsize and Closing of First Tr...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n \n \n \n Richmond Minerals Announces Non-Brokered Private Placement Upsize and Closing of First Tranche\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, Nov. 3, 2020\n \n \n \n \n Trading Symbol TSX(V): RMD\n \n Boerse Frankfurt: WKN A1W98A: R52\n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR\n \n \n FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n Nov. 3, 2020\n \n /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"\n \n \n Richmond\n \n \n \" or the \"\n \n Company\n \n \") is pleased to announce that further to its news release of\n \n October 20, 2020\n \n it has completed the first tranche of a non-brokered private placement (the \"\n \n Offering\n \n \") consisting of the sale of 1,666,665 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$100,000\n \n .\n \n \n \n \n \n \n \n \n \n Each FT Unit issued pursuant to the 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 Offering.\n \n \n Due to continued investor interest the Company will offer for sale an additional 1,666,666 FT Units for aggregate gross proceeds of up\n \n C$100,000\n \n (the \"\n \n Second Tranche Offering\n \n \"). The Second Tranche Offering is expected to close on or around\n \n November 13, 2020\n \n and is subject to regulatory approval, including the approval of the TSX Venture Exchange.\n \n \n \n Richmond\n \n intends to use the net proceeds from the Offering and 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 wi...