- Radisson Mining Resources (RDS) has closed its private placement for gross proceeds of $1,700,000.64
- The company issued (i) 5,870,592 Quebec flow-through shares priced at C$0.17 and (ii) 3,120,000 charity flow-through shares priced at C$0.225
- The company intends to use the gross proceeds received from the sale of the Québec FT shares to incur Canadian Exploration Expenses (CEE)
- Radisson Mining Resources Inc. is a gold exploration company focused on its 100-per-cent-owned O’Brien project
- Radisson Mining Resources Inc. opened trading at $0.12
Radisson Mining Resources (RDS) has closed its previously-announced private placement for gross proceeds of $1,700,000.64.
The company conducted the private placement in accordance with the previously-announced terms.
The offering included 5,870,592 Quebec flow-through shares priced at C$0.17 and 3,120,000 charity flow-through shares priced at C$0.225.
“Radisson is pleased to have received continued support from insiders and existing shareholders on this financing, including strong participation from Mr. Michael Gentile, a director and largest single shareholder of the company,” noted Denis V. Lachance, Interim President and Chief Executive Officer.
“We’re looking forward to rebuilding momentum in coming months with most of the work completed over the last 3 years coming to fruition in a resource estimate update for the O’Brien Project that remains on track for the first half of 2023,” he added.
The subscription of insiders of the company in the offering amounted to a total of 1,685,294 QC FT shares.
With the closing of the private placement, insiders of the company will own 9.57 per cent of the company’s issued and outstanding class A shares, including Gentile, who owns 6.43 per cent, or 18,321,701 class A shares.
The company intends to use the gross proceeds received from the sale of the Québec FT shares to incur Canadian Exploration Expenses (CEE).
Radisson Mining Resources Inc. is a gold exploration company focused on its 100-per-cent-owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec.
Radisson Mining Resources Inc. opened trading at $0.12.