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Richmond Minerals Inc. Announces Private Placement and Grant of Options
Richmond Minerals Inc. Announces Private Placement and Grant of Options Canada New...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Announces Private Placement and Grant of Options\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 19, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\nTrading Symbol TSX(V): RMDBoerse Frankfurt: WKN A1W98A: R52\n TORONTO, May 19, 2020 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (the \"Company\") proposes to complete a non-brokered private placement pursuant to which it shall issue up to 16,000,000 units (each a \"Unit) of the Company at a price of C$0.05 per Unit to raise aggregate proceeds of up to C$800,000 (the \"Offering\"). Each unit will consist of one common share and one common share purchase warrant (each, a \"Warrant\") . Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.10 until 5 pm (Toronto time) on the date which is 18 months following the closing of the Offering, whereupon the Warrants expire.    \n\n \n \n \n \n \n \n\n \nThe securities issued and issuable pursuant to the Offering will be subject to a four month and one day hold period.  The Company intends to use the net proceeds from the Offering to fund exploration and development at Company's Ontario and European properties and for working capital purposes related to the Transaction.  The 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 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 exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such...