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Richmond Minerals Announces Private Placement
Richmond Minerals Announces Private Placement Canada NewsWire TORONTO, July 10, ...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Announces Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 10, 2018\n\n\n\nTORONTO, July 10, 2018 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"Richmond\") is pleased to announce that it intends to complete a non-brokered private placement of up to 2,500,000 flow through units (FT Units\") at a price of $0.08 per FT Unit, for gross proceeds of approximately $200,000 (the \"Offering\"). Closing of the Offering is expected to occur on or about July 31, 2018.\n\nEach FT Unit will consist of one (1) common share in the capital stock of the Issuer that is a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (\"Common Share\") and one-half (½) of one common share purchase warrant (a \"FT Warrant\"). Each whole FT Warrant will entitle the holder to purchase one common share at a price of $0.10 per common share until the date which is two (2) years following the closing date of the Offering, whereupon the FT Warrants will expire.\n\nThe securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period.\n\nRichmond intends to use the net proceeds from the offering to fund \"Canadian exploration expenses\" (within the meaning of the Income Tax Act (Canada)) and for continued exploration on Richmond's assets and for general working capital purposes. \n\nThe Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (\"TSX-V\") and applicable securities regulatory authorities. \n\nThe securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securit...