TSX Venture: RMD
TORONTO, Jan. 27 /CNW/ - Richmond Minerals Inc. (the "Company") announces that the proposed private placement announced on January 12, 2009, closed on January 26, 2009. The Company raised $140,000 through the issuance of 2,800,000 units, each unit consisting of one common share and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of $0.10 per share until January 25, 2010. The shares being issued are subject to a four month hold period and restrictions on trading by the TSX Venture. The proceeds will be used for working capital purposes.
Richmond Minerals Inc. is engaged in base and precious metal mining and related activities, including exploration and development in Northern Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
%SEDAR: 00009282E