Radisson Announces Closing of a $176,000 Private Placement
December 31, 2013 (Source: Marketwired) — Radisson Mining Resources Inc. (TSX VENTURE:RDS) (“Radisson”) is pleased to announce that it closed a $ 176,000 private placement for development of the O’Brien/Kewagama project and of its new properties with phosphate potential constituting the Lac Gouin SSO project.
In connection with this placement, Radisson issued 977,780 flow-through shares at a price of $0.18. These shares are divided among 11 private investors. No cash compensation is linked to the placement and the shares issued are subject to a hold period of four months and one day.
Radisson’s management intends to pursue its business plan and use the proceeds of this placement to initiate the metallurgical study of the O’Brien property.
The proceeds will also be used for prospecting on the properties of Radisson’s Lac Gouin SSO phosphate project, located about 65 km southeast of Arianne Phosphate Inc.’s Lac à Paul phosphate deposit. The properties of the Lac Gouin SSO phosphate project are located approximately 115 km north of Lac Saint-Jean, in the province of Québec, and are accessible by logging roads.
For further information about Radisson Mining Resources and its projects, please visit the Company’s new website (www.radissonmining.com).
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ABOUT RADISSON MINING RESOURCES:
Radisson is a Québec-based mineral exploration company. The adjoining O’Brien and Kewagama properties, cut by the regional Cadillac Break, are Radisson’s main asset. They contain the O’Brien Mine, which is considered to have been the highest grade gold producer of the Abitibi Greenstone Belt when it was in production (1,310,356 short tons at 0.448 oz/t from 1925 to 1956). The Company is focusing exploration efforts on Zone 36 East, located approximately 2,000 feet (610 metres) east of the main shaft of the old O’Brien mine.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>