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Richmond Minerals Inc. Announces Closing of Private Placement
Richmond Minerals Inc. Announces Closing of Private Placement Richmond Minerals In...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Announces Closing of 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\nRichmond Minerals Inc. Announces Closing of Private Placement\nCanada NewsWire\nTORONTO, Sept. 12, 2016\n\n\n\nTORONTO, Sept. 12, 2016 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"Richmond\" or the \"Company\") is pleased to announce that further to its August 31, 2016 news release the Company has completed a non-brokered private placement financing for aggregate gross proceeds of $260,150.00 (the \"Offering\"). The Offering consisted of the sale of flow-through units (\"FT Units\") at $0.08 per FT Unit and the sale of hard dollar units (\"HD Units\") at $0.07 per HD Unit.\n\nA total of 2,162,500 FT Units will be issued for gross proceeds of $173,000.00 and 1,244,999 hard dollar units will be issued for gross proceeds of $87,150.00. Each FT Unit  consists 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 will entitle the holder to purchase one Common Share at a price of $0.12 per Common Share until the date which is 24 months following the closing date of the Offering, whereupon the FT Warrants expire. Each HD Unit consists of one Common Share and a ½ Common Share purchase warrant (\"HD Warrant\"). Two HD Warrants will entitle the holder to purchase one Common Share at a price of $0.12 per Common Share until the date which is 18 months following the closing date of the Offering, whereupon the HD Warrants expire.  \n\nFinder's fees of $10,000 cash and 125,000 Broker Warrants were paid to finder's. Each Broker Warrant will entitle the holder to purchase one Common Share at a price of $0.12 per Common Share until the date which is 24 months following the closing date of the Offering, whereupon the Broker Warrants expire. The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period. \n\nRichmond intends to use the net procee...