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Richmond Minerals Inc. Completes $245,000 Non-Brokered Private Placement
Richmond Minerals Inc. Completes $245,000 Non-Brokered Private Placement Canada Ne...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Completes $245,000 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 14, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n TORONTO, Sept. 14, 2018 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"Richmond\") is pleased to announce that, further to its announcement on August 15, 2018, it has completed a non-brokered private placement for aggregate gross proceeds of $245,000 (the \"Offering\"). The Offering consisted of the sale of 4,083,332 flow through units (FT Units\") at a price of $0.06 per FT Unit.                                    \nEach FT Unit consisted of one (1) common share in the capital stock of the Richmond that is a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (the \"Act\") and one-half (½) of one common share purchase warrant (a \"FT Warrant\"). Each whole FT Warrant will entitle the holder to purchase one (1) common share at a price of $0.08 per common share until the date which is two (2) years following the closing date of the Offering, whereupon the FT Warrants will expire. \nRichmond intends to use the net proceeds from the Offering to fund \"Canadian exploration expenses\" (within the meaning of the Act) and for continued exploration on Richmond's assets and for general working capital purposes. Richmond will ensure that the proceeds received from the amount allocated to the Common Shares comprising part of the FT Units sold will be used to incur expenses which qualify as Canadian Exploration Expenses and Flow-Through Mining Expenditures for purposes of the Act and will renounce such expenses with an effective date of no later than December 31, 2018. \nThe securities issued and issuable pursuant to the Offering will be subject to a four month and on...