Business
Richmond Minerals Inc. Announces C$100,000 Non-Brokered Private Placement
Richmond Minerals Inc. Announces C$100,000 Non-Brokered Private Placement Canada N...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Announces C$100,000 Non-Brokered 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, April 5, 2019\n\n\n\nTORONTO, April 5, 2019 /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 1,000,000 hard dollar units (\"Units\") at a price of C$0.05 per Unit, and 1,000,000 flow through units (\"FT Units\") at a price of C$0.05 per FT Unit, for aggregate gross proceeds of approximately C$100,000 (the \"Offering\"). Closing of the Offering is expected to occur on or about April 30, 2019.\nEach Unit will consist of one (1) common share in the capital stock of Richmond (\"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one Common Share at a price of C$0.07 per Common Share until the date which is two (2) years following the closing date of the Offering, whereupon the Warrants will expire.\nEach FT Unit will consist of one (1) common share in the capital stock of Richmond that is a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (a \"FT Share\") and one Warrant. \nThe securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. Richmond 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. \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. \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...