Company sells units at C$0.15 apiece, flow-through shares at C$0.20
By Devika Patel
Knoxville, Tenn., Aug. 11 – Radisson Mining Resources Inc. said it raised C$1 million in the first tranche of a C$2 million private placement of units and stock.
The company is selling 5 million flow-through shares at C$0.20 per share and 6,666,667 units of one common share and one half-share warrant at C$0.15 per unit. It sold 3 million shares and 2,666,667 units in the initial tranche.
Each whole 18-month warrant is exercisable at C$0.20, a 17.65% premium to the Aug. 10 closing share price of C$0.17. The price per share is also a 17.65% premium to that price. The warrants issued in the first tranche expire on Feb. 11, 2018.
Settlement of the final tranche is expected Sept. 25.
Proceeds will be used for exploration and development of the O’Brien project and general administrative and corporate expenses.
Red Cloud Klondike Strike was paid a 7% cash finder's fee of C$47,250 and 350,000 finder's warrants.
Radisson is a mining company based in Rouyn-Noranda, Quebec.
| Issuer: | Radisson Mining Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through shares
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| Amount: | C$2 million
|
| Settlement dates: | Aug. 11 (for C$1 million), Sept. 25
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| Stock symbol: | TSX Venture: RDS
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| Stock price: | C$0.17 at close Aug. 10
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| Market capitalization: | C$15.02 million
|
|
|
| Stock
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| Amount: | C$1 million
|
| Shares: | 5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
|
|
| Units
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| Amount: | C$1 million
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| Units: | 6,666,667
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| Price: | C$0.15
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| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months, Feb. 11, 2018
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| Warrant strike price: | C$0.20
|
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