Radisson Completes a $444,400 Brokered Private Placement
ROUYN-NORANDA, QUEBEC--(Marketwired - Aug 13, 2015) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) ("Radisson") is pleased to announce that it has closed a brokered private placement of 3,418,461 units at a price of $0.13 per units for total gross proceed of $444,400 with Jones, Gable & Company Limited. Each Unit consists of one class A 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 class A share at a price of $0.18 until February 13, 2017. In accordance with Canadian securities laws, the securities issued and issuable in the private placement are subject to a four-month hold period expiring on December 14, 2015.
The net proceeds of the offering will be used for exploration and development of the O'Brien project and for general administrative and corporate purposes.
Four directors made contribution to the private placement for a total amount of $169,500 representing 1,303,846 units.
In connection with the private placement, Radisson paid a cash commission in the amount of $22,792 and 273,477 agent warrants entitling the agents to acquire one class A share of the share capital of Radisson for $0.13 until February 13, 2017.
The placement is subject to final acceptance by the TSX Venture Exchange.
As a result of the private placement, there are currently 86,170,964 class A 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 (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; InnovExplo, April 2015).
For more information on Radisson, please visit our website at www.radissonmining.com.
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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.
Forward-Looking Statements: This press release may contain certain forward-looking information. All statements included herein, 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
Mario Bouchard
President & Chief Executive Officer
819-277-6578
mbouchard@radissonmining.com
