Radisson Announces Closing of Bought Deal Financing for $25 Million
Radisson Announces Closing of Bought Deal
Financing for $25 Million
Toronto, Ontario--(Newsfile Corp. - May 28, 2026) -
Radisson Mining Resources Inc. (TSXV: RDS)
(OTCQX: RMRDF)
("
Radisson
" or the "
Company
") is pleased to announce that it has closed its
previously announced "bought deal" private placement pursuant to which the Company issued a total of
18,115,797 Class A common shares of the Company that each qualify as "flow-through shares" (within
the meaning of subsection 66(15) of the
Income Tax Act
(Canada)) as part of a charity arrangement (the
"
FT Shares
"), at a price of $1.38 per FT Share, for aggregate gross proceeds of $24,999,800 (the
"
Offering
"). The 18,115,797 FT Shares issued under the Offering include 2,174,000 FT Shares issued
and sold pursuant to the full exercise of the option granted by the Company to the Underwriters.
Matt Manson, President and CEO:
"We are very grateful for the strong support demonstrated for this
financing from existing and new shareholders. In October 2025, we expanded our successful deep,
step-out drill program at the O'Brien Gold Project to what will be an eventual 140,000 metres with up to
eight drill rigs. The drill program is ongoing, and in March of this year we demonstrated its value with
an interim, and meaningful, increase in the estimate of the Project's mineral resources. With this
financing completed, we can now (i) plan the expansion and extension of our drilling through to the
end of 2027, (ii) manage our capital resources more efficiently with our "flow-through" eligible
exploration expenditures, and (iii) establish a strong treasury to support project development activities
and project de-risking. In particular, our step-out drilling ambition is to go deeper. Until now, our
exploration horizon has been to a floor of 2 kilometers depth. Results to date indicate extensive gold
mineralization with good continuity beneath the former mine and the current mineral resources to at
least 1.9 kilometers depth (see
Radisson news release dated April 30, 2026
). Given the character of
neighboring gold deposits and the wealth of mining infrastructure within or close to the O'Brien Gold
Project, we now intend to extend our exploration to a depth of 2.5 kilometers with new deep drilling and
directional wedging. We believe that O'Brien gold mineralization has the potential to extend to at least
these depths, that such mineralization offers the potential for significant new mineral resources in
excess of our current exploration target, and that these mineral resources might be reasonably
expected to be developed."
The Company will use an amount equal to the gross proceeds from the sale of the FT Shares, pursuant
to the provisions in the
Income Tax Act
(Canada) (the "
Tax Act
"), to incur eligible "Canadian exploration
expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in the Tax Act)
(the "
Qualifying Expenditures
") in connection with the exploration of the O'Brien Gold Project,
including deep drilling beyond the scope of the current program, on or before December 31, 2027. The
Company will renounce all such Qualifying Expenditures in favour of the subscribers of the FT Shares
effective December 31, 2026. In the event the Company is unable to renounce Qualifying Expenditures
effective on or prior to December 31, 2026 for each FT Share purchased in an aggregate amount not
less than the gross proceeds raised from the issue of the FT Shares, the Company will indemnify each
FT Share subscriber, as applicable, for the additional taxes payable by such subscriber as a result of the
Company's failure to renounce the Qualifying Expenditures as agreed.
The Offering was completed pursuant to an underwriting agreement dated May 28, 2026 between the
Company and a syndicate of underwriters led by ATB Cormark Capital Markets (collectively, the
"
Underwriters
"). In consideration for the services provided to the Company in connection with the
Offering, the Underwriters received an aggregate cash commission equal to $1,316,792.99,
representing (i) 6% of the gross proceeds of the Offering with respect to the FT Shares sold to
purchasers not on the President's List, and (ii) 3% of the gross proceeds of the Offering with respect to
the FT Shares sold to purchasers on the President's List, provided that no commission was paid with
respect to certain U.S. Purchasers under the President's List (the "
Cash Commission
"). The Cash
Commission was paid by the Company with existing cash on hand.
The Offering remains subject to the final acceptance of the TSX Venture Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National
Instrument 45-106 -
Prospectus Exemptions
("
NI 45-106
"), the FT Shares have been offered for sale to
purchasers resident in all provinces of Canada pursuant to the listed issuer financing exemption under
Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 -
Exemptions from Certain
Conditions of the Listed Issuer Financing Exemption
(the "
Listed Issuer Financing Exemption
").
The FT Shares issued under the Offering to purchasers resident in Canada under the Listed Issuer
Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities
laws.
An amended offering document related to the Offering and the use by the Company of the Listed Issuer
Financing Exemption can be accessed under the Company's profile on SEDAR+ at
www.sedarplus.ca
and on the Company's website at
www.radissonmining.com
.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securities in the United States. The securities described herein have not
been and will not be registered under the United States Securities Act of 1933, as amended (the "
U.S.
Securities Act
"), or any of the securities laws of any state of the United States, and are not being
offered or sold within the United States or to, or for the account or benefit of, U.S. persons except
pursuant to an exemption from the registration requirements of the U.S. Securities Act and any
applicable securities laws of any state of the United States.
Qualified Persons
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of
Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for the Company and a Qualified Person for
purposes of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
. Mr. Nieminen is
independent of the Company and the O'Brien Gold Project.
About Radisson Mining
The Company is a gold exploration company focused on its 100% owned O'Brien Gold Project
("
O'Brien
" or the "
Project
"), located in the Bousquet-Cadillac mining camp along the world-renowned
Larder-Lake-Cadillac Break in Abitibi, Québec. A July 2025 PEA described a low cost and high value
project with an 11-year mine life and significant upside potential based on the use of existing regional
infrastructure. Indicated Mineral Resources are estimated at 0.63 Moz (3.49 Mt at 5.59 g/t Au), with
additional Inferred Mineral Resources estimated at 1.69 Moz (10.37 Mt at 5.08 g/t Au).
Please see the technical report titled "O'Brien Gold Project NI 43-101 Technical Report and Preliminary
Economic Assessment, Québec, Canada" effective June 27, 2025 (the "
PEA
"), Radisson's news
release dated March 2, 2026 titled "With Step-Out Drilling Continuing, Radisson Demonstrates
Meaningful Resource Growth at O'Brien with an Updated Mineral Resource Estimate" and other filings
made with Canadian securities regulatory authorities available at
www.sedarplus.ca
for further details
and assumptions relating to the Project. The PEA is preliminary in nature, it includes inferred mineral
resources that are considered too speculative geologically to have economic considerations applied to
them that would enable them to be categorized as mineral reserves, and there is no certainty that the
PEA will be realized.
The Company's head and registered office is located at 50 du Petit-Canada Street, Rouyn-Noranda,
Québec J0Y 1C0. The Class A common shares of the Company are listed on the TSX-V under the
symbol "RDS" and on the OTCQX under the symbol "RMRDF".
For more information on Radisson, visit our website at
www.radissonmining.com
or contact:
Matt Manson
President and CEO
416.618.5885
Kristina Pillon
Manager, Investor Relations
604.908.1695
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 news release. No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained herein.
Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information within the
meaning of applicable Canadian securities legislation (collectively, "
forward-looking information
"),
including, but not limited to, the Offering (including the tax treatment of the FT Shares, the timing to
renounce all Qualifying Expenditures in favour of the subscribers and the use of proceeds of the
Offering), statements regarding discussions of future plans, estimates and forecasts and statements
as to management's expectations and intentions and the Company's anticipated work programs.
Often, but not always, forward-looking information can be identified by the use of words and phrases
such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "believes" or variations (including negative variations) of such words and phrases, or
state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or
be achieved. Forward-looking information reflects the Company's beliefs and assumptions based on
information available at the time such statements were made. Actual results or events may differ from
those predicted in forward-looking information. All of the Company's forward-looking information is
qualified by the assumptions that are stated or inherent in such forward-looking information, including
the assumptions listed below.
Although the Company believes that the assumptions underlying the forward-looking information
contained in this news release are reasonable, this list is not exhaustive of the factors that may affect
any forward-looking information. The key assumptions that have been made in connection with
forward-looking information include the following: that the Company will use the proceeds of the
Offering as anticipated; and that the Company will receive all necessary approvals in respect of the
Offering.
Forward-looking information involves known and unknown risks, future events, conditions,
uncertainties, and other factors which may cause the actual results, performance, or achievements to
be materially different from any future results, performance or achievements expressed or implied by
forward-looking information. Such factors include, among others, general business, economic,
competitive, political and social uncertainties; that the Company will not use the proceeds of the
Offering as anticipated; that the Company will not receive all necessary approvals in respect of the
Offering; market volatility; the state of the financial markets for the Company's securities; the
speculative nature of mineral exploration and development; fluctuating commodity prices; the future
tax treatment of the FT Shares; competitive risks; costs of exploration; the actual results of current
exploration activities; risks and uncertainties related to the ability to obtain or maintain necessary
licenses, permits or surface rights; errors in geological modelling; conclusions of economic
evaluations; changes in project parameters as plans continue to be refined; exploration results not
being consistent with the Company's expectations; the supply and demand for, deliveries of, and the
future prices of commodities; accidents, labour disputes and other risks of the mining industry; the
availability of qualified employees and contractors; political instability; the impact of value of the
Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market
competition; changes in taxation rates or policies; technical difficulties in connection with mining
activities; changes in environmental regulation; environmental compliance issues; delays in
obtaining governmental approvals or financing; and other risks of the mining industry.
Although the Company has attempted to identify important factors that could cause actual actions,
events or results to differ materially from those described in forward-looking information, there may be
other factors that cause actions, events or results to differ from those anticipated, estimated or
intended. Readers should consider reviewing the detailed risk discussion in the sections entitled
"Risks and Uncertainties related to Exploration" and "Risks Related to Financing and Development"
in the management discussion & analysis for the year ended December 31, 2025, the financial
statements of the Company, and other public disclosure of the Company, all of which are available on
SEDAR+ under Radisson's issuer profile, for a fuller understanding of the risks and uncertainties that
affect the Company's business and operations. Forward-looking information contained herein is given
as of the date of this news release and the Company disclaims any obligation to update any forward-
looking information, whether as a result of new information, future events, or results, except as may be
required by applicable securities laws. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking
information.
Not for distribution to United States newswire services or for dissemination in the United
States
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/299213