Deal sells 6,666,667 units of a share, a half-share warrant at C$0.15
By Devika Patel
Knoxville, Tenn., May 6 – Radisson Mining Resources Inc. said it raised C$402,510 in the first tranche of a C$1 million private placement of units. The deal priced on March 8 and is being conducted on a commercially reasonable efforts basis by Red Cloud Klondike Strike Inc.
The company is selling 6,666,667 units of one common share and one half-share warrant at C$0.15 per unit. It sold 2,683,402 units in the initial tranche.
Each whole warrant will be exercisable at C$0.20 for 18 months. The strike price is a 33.33% premium to C$0.15, the March 7 closing share price.
Settlement of the final tranche is expected June 7.
Proceeds will be used for exploration and development of the O'Brien project and for general administrative and corporate expenses.
Radisson is a Rouyn-Noranda, Quebec-based mineral exploration company.
| Issuer: | Radisson Mining Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 6,666,667
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Red Cloud Klondike Strike Inc.
|
| Pricing date: | March 8
|
| Settlement dates: | May 6 (for C$402,510), June 7
|
| Stock symbol: | TSX Venture: RDS
|
| Stock price: | C$0.15 at close March 7
|
| Market capitalization: | C$12.81 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
