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Richmond Minerals Inc. Announces $402,000 Non-Brokered Private Placement
Richmond Minerals Inc. Announces $402,000 Non-Brokered Private Placement Canada Ne...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Announces $402,000 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, Oct. 24, 2017\n\n\n\nTORONTO, Oct. 24, 2017 /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 1,700,000 hard dollar units (\"Units\") at a price of CAN$0.06 per Unit, for gross proceeds of approximately $102,000, and 3,750,000 flow through units (FT Units\") at a price of $0.08 for gross proceeds of approximately $300,000 (the \"Offering\"). Closing of the Offering is expected to occur on or about November 30, 2017.                        \n\nEach Unit will consist of one (1) common share in the capital stock of the Issuer (\"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 CAN$0.10 per common share until the date which is two (2) years following the closing date of the Offering, whereupon the Warrants will expire.\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 CAN$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. 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. The Offering is...