New York, May 15 - Radisson Mining Resources Inc. said it settled a C$1.21 million private placement of units.
The Rouyn-Noranda, Quebec, company sold 3.45 million units at C$0.35 each. Each unit is made up of one common share and a warrant to buy one common share at C$0.45 for two years following closing.
Union Securities Ltd. was placement agent.
Proceeds will be used to develop Radisson's O'Brien/Kewagama properties and for working capital.
Radisson is a mining company focused on gold, molybdenum and base metals.
| Issuer: | Radisson Mining Resources Inc.
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| Issue: | Units of stock and warrants
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| Amount: | C$1,207,500
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| Units: | 3,450,000
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| Price: | C$0.35
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| Warrants: | For 3,450,000 shares
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| Warrant exercise price: | C$0.45
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| Warrant term: | 2 years
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| Placement agent: | Union Securities Ltd.
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| Stock symbol: | TSX Venture: RDS
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| Stock price: | C$0.38 at close May 15
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