Business
Richmond Minerals Inc. Announces Closing of Non-Brokered Private Placement
Richmond Minerals Inc. Announces Closing of Non-Brokered Private Placement Canada ...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Announces Closing of 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, Dec. 29, 2016\n\n\n\nTORONTO, Dec. 29, 2016 /CNW/ - Richmond Minerals Inc.  (TSX-V: RMD) (\"Richmond\" or the \"Company\") is pleased to announce that it has completed a non-brokered private placement financing for aggregate gross proceeds of $134,998.98. The private placement consisted of the sale of flow-through units (\"FT Units\") at $0.06 per FT Unit.\n\nEach FT Unit consisted of one common share in the capital stock of Richmond (\"Common Share\") issued on a flow-through basis and a ½ Common Share purchase warrant (\"FT Warrant\"). Two FT Warrants entitle the holder to purchase one Common Share a price of $0.10 per Common Share until the date which is 24 months following the closing date of the Offering, whereupon the FT Warrants expire. The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period. \n\nFinder's fees of $7,600 cash and 126,667 compensation warrants are to be paid to finders. Two compensation warrants entitle the holder to purchase one Common Share a price of $0.10 per Common Share until the date which is 24 months following the closing date of the Offering, whereupon the compensation warrants expire.  \n\nRichmond intends to use the net proceeds from the private placement to fund continued exploration on Richmond's Ridley Lake Project. The private placement 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\nCautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as ass...