Business
Richmond Minerals Inc. Announces Non-Brokered Private Placement.
Richmond Minerals Inc. Announces Non-Brokered Private Placement. Richmond Minerals...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Announces 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\nRichmond Minerals Inc. Announces Non-Brokered Private Placement.\nCanada NewsWire\nTORONTO, Dec. 24, 2015\n\n\n\nTORONTO, Dec. 24, 2015 /CNW/ - The Corporation announces that it intends to complete a non-brokered private placement financing for aggregate gross proceeds of up to $130,000 (the \"Offering). The Offering will consist of the sale of hard dollar and flow-through units (\"FT unit\") at $0.07 per unit. Each hard dollar and FT Unit will consist of one common share in the capital stock of Richmond and a ½ Common Share purchase warrant. Two 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 Warrants expire. The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period. In connection with the Offering, certain qualified finders may receive a cash commission.\n\nRichmond intends to use the net proceeds from the Offering to fund exploration work on the Company's Swayze area gold properties during 2016, and will renounce the qualifying expenditures to flow through subscribers of the Offering for the fiscal year ended December 31, 2015.\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. Richmond intends to close the Offering on or around December 30th, 2015.\n\nCAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual ev...