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Richmond Minerals Inc. Completes Second Tranche of Non-Brokered Private Placement and Provides Update on Fundamental Acquisition
Richmond Minerals Inc. Completes Second Tranche of Non-Brokered Private Placement and Prov...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n\n\n\nRichmond Minerals Inc. Completes Second Tranche of Non-Brokered Private Placement and Provides Update on Fundamental Acquisition\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, Feb. 20, 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, Feb. 20, 2020 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"Richmond\") is pleased to announce that it has completed its second and final tranche (the \"Second Tranche\") of its previously announced non-brokered private placement (the \"Offering\"). The Second Tranche consisted of the sale of 2,000,000 units (each, a \"Unit\") at a price of C$0.05 per Unit for aggregate gross proceeds of C$100,000. \nEach Unit consists of one (1) common share in the capital stock of Richmond (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to purchase one common share at a price of C$0.10 per common share until the date which is eighteen (18) months following the date of issuance.\nThe securities issued and issuable pursuant to the Second Tranche will be subject to a four month and one day statutory hold period.\nThe net proceeds from the Offering will used to fund the Phase 1 work program on the proposed purchase of 99 mineral claim units (the \"Transaction\") located in the province of Styia, Austria from Silbermine Zeiring Gmbh, and for costs related to completion of the proposed Transaction. \nFor more details related to the proposed Transaction, please see the press releases of Richmond dated November 7, 2019 and January 15, 2020, as well the technical report filed on SEDAR entitled: \"Technical Report for Richmond Minerals Inc. on the Oberzeiring Polymetallic Property, Zeiring Polymetallic Mining District, Styria, Austria\" with an effective date of November 7, 2019.\nClosing of the Transaction, which is a fundamental acquisition, remains subject to final approval of the TSXV and certai...