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Richmond Minerals Inc. Completes $249,600 Non-Brokered Private Placement
Richmond Minerals Inc. Completes $249,600 Non-Brokered Private Placement Canada Ne...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Completes $249,600 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, July 31, 2017\n\n\n\nTORONTO, July 31, 2017 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"Richmond\") is pleased to announce that it has completed a non-brokered private placement financing for aggregate gross proceeds of $249,600 (the \"Offering\"), further to its announcement on June 27, 2017. The Offering consisted of the sale of 4,160,000 units (each, a \"Unit\") at a price of $0.06 per Unit.\n\nEach Unit consists of one (1) common share in the capital stock of Richmond that is a \"flow-through share\" (the \"FT Share\") within the meaning of the Income Tax Act (Canada) (the \"Act\") and one-half of a common share purchase warrant (the \"Warrant\"). Each whole Warrant will entitle the holder thereof to acquire one common share, which is not a \"flow-through share\" within the meaning of the Act, of Richmond at a price of $0.10 until a period of two (2) years following the closing date of the Offering, whereupon the 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.\n\nRichmond will ensure that the proceeds received from the amount allocated to the FT Shares comprising part of the 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, 2017. \n\nCautionary Statements\n\nNeither 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 news release. \n\nThis 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 events, results, performance, prospects and opportunities to differ materially from...