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Radisson Mining Resources (TSXV:RDS) announced a private placement of up to $2,000,000, consisting of 15,384,615 units priced at $0.13 per unit. An engagement letter has been signed with Jones, Gable & Company Limited to act as an agent for Radisson Mining. Closing of this offering is expected on June 17, 2015.
As quoted in the press release:
Radisson Mining Resources Inc. (TSX VENTURE:RDS) (“Radisson”) is pleased to announce that it has signed an engagement letter with Jones, Gable & Company Limited (“JGC”) as agent to assist Radisson on a commercially reasonable effort basis in raising up to $2,000,000, by way of a private placement from an offering of up to 15,384,615 units (“Unit”) priced at $0.13 per Unit. Each Unit consists of one common share of the share capital of Radisson and one half share purchase warrant (“1/2 Warrant”). Each full Warrant entitles its holder thereof to purchase one common share at a price of $0.18 for a period of eighteen (18) months from the issuance of the Units. A 8% commission and 8% Broker Warrants will be payable on the closing of the offering to JGC. Each Broker Warrant is exercisable into one (1) common share of Radisson for a period of eighteen (18) months at a price of $0.13 per share.
The net proceeds of the offering are intended to be used for exploration and development of the O’Brien project and for general administrative and corporate purposes.
The closing of this offering is expected to occur on June 17, 2015 (the “Closing date”) and is subject to receipt of all necessary regulatory approvals, including approval from the TSX Venture Exchange. The common shares with respect to this offering will be subject to a four (4) month and one day hold period in accordance with applicable Canadian securities laws.
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