By Devika Patel
Knoxville, Tenn., June 1 - Radius Gold Inc. said it settled a C$2.52 million non-brokered private placement of stock. The deal priced for C$2.5 million on May 2. The company also increased another private placement of units, which priced May 25.
In the first deal, the company sold 5,606,143 flow-through common shares at C$0.45 each.
Proceeds will be used for exploration.
In the second offering, Radius increased its placement to C$4.55 million from C$3.5 million. The company will now sell 13 million units of one common share and one half-share warrant at C$0.35 per unit. Each whole warrant will be exercisable at C$0.50 for two years.
Proceeds will be used for drilling and general working capital.
The mineral explorer is based in Vancouver, B.C.
| Issuer: | Radius Gold Inc.
|
| Stock symbol: | TSX Venture: RDU
|
| Market capitalization: | C$19.3 million
|
|
|
| First deal
|
| Issue: | Flow-through common stock
|
| Amount: | C$2,522,764
|
| Shares: | 5,606,143
|
| Price: | C$0.45
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 2
|
| Settlement date: | June 1
|
| Stock price: | C$0.36 at close April 30
|
|
|
| Second deal
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4.55 million
|
| Units: | 13 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | May 25
|
| Upsized: | May 31
|
| Stock price: | C$0.36 at close May 25
|
© 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.
