Radisson Mining Resources Inc.
Has arranged a non-brokered private placement to raise a minimum of $1.5-million.
This private placement will consist of a minimum of 5,000,000 common class A shares priced at CAD$0.20, and a minimum of 2,762,431 charity flow-through shares priced at CAD$0.362 per Quebec Charity FT Share, raising a minimum of $1,500,000.
Radisson Mining arranges $1.5M private placement
2020-06-09 10:13 ET – News Release
Mr. Mario Bouchard reports:
Radisson Mining Resources Inc. has arranged a non-brokered private placement to raise a minimum of $1.5-million. This private placement will consist of: (i) a minimum of 5,000,000 common class A shares (the “Class A shares”) priced at CAD$0.20 and (ii) a minimum of 2,762,431 charity flow-through shares (the “Quebec Charity FT Shares”) priced at CAD$0.362 per Quebec Charity FT Share raising a minimum of $1,500,000 (the “Offering”). The Company may elect to increase the size of the Offering by issuing additional Quebec Charity FT Shares and/or Class A shares.
The company is pleased to announce that Marshall Precious Metals Fund purchased the entire current Offering.
Gold
“Marshall Precious Metals is delighted to make one of its first investments in an area that I know well from my many years in northern Quebec with Inmet Mining and Agnico-Eagle. Radisson has assembled a very accomplished management team and Board of Directors and has undertaken an aggressive exploration program on an impressive land position in one of the most prolific gold districts in the world,” said David Garofalo, Chairman and CEO of MPM Capital Management.
“We are delighted to welcome the Marshall Precious Metals Fund as a shareholder. The fund’s Chairman and CEO, David Garofalo, is among the best-known names in the mining industry, thanks to an illustrious career spanning more than 30 years. He spent more than 15 years with major gold producers Agnico-Eagle and Goldcorp (more recently as the President & CEO of Goldcorp) including extensive experience in Quebec.
Over the years, Mr. Garofalo has been instrumental in creating value through the exploration, development, and operation of several high-grade, world-class gold deposits. As such, we are very pleased to be one of the first investments of his new investment fund. We are grateful for his confidence in the potential of the O’Brien project and look forward to his continued support in the coming years.” commented Mario Bouchard, President and CEO of Radisson mining resources Inc.
About the Marshall Precious Metals Fund and David Garofalo
The Marshall Precious Metals Fund SP, managed by MPM Capital Management, is focused on being a reliable provider of capital to exploration-stage precious metals companies globally.
David Garofalo is the Chairman and Chief Executive Officer of the Marshall Precious Metals Fund. Mr Garofalo is a globally recognized c-suite executive with 30 years of experience in the creation and growth of multi-billion dollar sustainable mining businesses across multiple continents.
Recently Mr. Garofalo served as the President, Chief Executive Officer & Director of Goldcorp until its US$ 10 billion merger with Newmont Mining. Prior to joining Goldcorp (2016-2019), he was President, Chief Executive Officer and Director of Hudbay Minerals (2010 {&#A A ; –} 2015) and prior to that he served as Senior Vice-President, Finance and Chief Financial Officer of Agnico Eagle (1998 {&#A A ; –} 2010).
Mr. Garofalo was awarded Canada’s CFO of the Year by Financial Executives International Canada (2009) and Top Gun CFO by Brendan Wood International (2009 and 2010) and was recognized by IR Magazine with awards for Best Investor Relations by a CFO (2009 and 2010) and Best Investor Relations by a CEO (2011). Also recognized as The Northern Miner’s Mining Person of the Year for 2012. Mr. Garofalo is also currently Chairman of the Board at Great Panther Mining Limited.
Use of proceeds
The gross proceeds received by the Company from the sale of the Quebec Charity FT Shares will be used to incur Canadian Exploration Expenses (“CEE”) that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) on the O’Brien gold project in the Province of Quebec, which will be renounced to the subscribers with an effective date no later than December 31, 2020, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares.
Finders’ fees
In conjunction with the offering, the company expects to pay up to 6% finders’ fee to Laurentian Bank Securities Inc.
Closing of the offering
The Offering is scheduled to close on or about July 9, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including that of the TSX Venture Exchange.