Radisson Mining Resources Inc. Announces a $2,000,000 Private Placement
ROUYN-NORANDA, QUEBEC -- (Marketwired - May 15, 2015) - 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.
There are currently 82,752,503 common shares of Radisson issued and outstanding.
About Radisson Mining Resources Inc.
Radisson is a Quebec-based mineral exploration company. The O'Brien project, cut by the regional Larder-Lake-Cadillac Fault, is Radisson's main asset. The former O'Brien Mine, is considered to have been the Abitibi Greenstone Belt's highest-grade gold producer during its production (1,310,356 short tons at 0.448 oz/t from 1925 to 1956; RPA, May 2007).
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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information on Radisson, please visit our website at www.radissonmining.com
Forward-Looking Statements: This press release may contain certain forward-looking information. All statements included herein, including the scheduled Closing date, but other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Radisson's disclosure documents on the SEDAR website at www.sedar.com.
Contact
Radisson Mining Resources Inc.
Mario Bouchard, President and CEO
819-277-6578
mbouchard@radissonmining.com
Hubert Parent-Bouchard, Director of finance
819-763-9969
hpbouchard@radissonmining.com
www.radissonmining.com