Radisson Announces Upsize of its previously announced Private Placement to $11 Million
www.radissonmining.com
Not for distribution to United States newswire services or for dissemination in the United States
For immediate release TSX-V: RDS, OTC: RMRDF, FRANKFURT: 2RX
October 19, 2020
Radisson Announces Upsize of its previously announced Private
Placement to $11 Million
Radisson Mining Resources Inc. (TSX -V: RDS, OTC: RMRDF) (“Radisson” or the
“Corporation") is pleased to announce that due to investor demand in connection with its
previously announced private placement, it has entered into an agreement with Eight Capital as
co-lead agent and sole bookrunner, on behalf of a syndicate of agent s co-led by Eight C apital,
BMO Capital Markets and INFOR Financial Inc., as co-lead Agents (together the “ Agents”)
pursuant to which the Company and the agents have agreed to upsize the proposed private
placement (the “Offering”) for aggregate gross proceeds of up to $11 ,000,200 of securities in a
combination of : (i) units of the Corporation (the “Hard Units”) at a price of $0.34 per Hard Unit,
and the remaining balance from the sale of Class A shares of the Corporation that qualify as “flow-
through Class A shares”: (ii) Quebec flow-through Class A shares of the Corporation (the “Quebec
FT Shares”), at a price of $0. 50 per Quebec FT Share , and (ii) Charity flow-through units (the
“Charity FT Units”) at a price of $0.60 per Charity FT Unit(together with the Quebec FT Shares,
the “FT Shares”).
The Corporation has also granted the Agents an option to offer for sale up to an additional
$2,000,000 of Hard Units and/or FT Shares, in such proportion as the Agents may determine,
exercisable at any time until 48 hours prior to Closing, to cover over-allotments, if any.
Each Hard Unit will consist of one Class A share of the Corporation and one-half of a Class A
share purchase warrant (each whole common share purchase warrant, a “ Warrant”). Each
Warrant will entitle the holder thereof to acquire one additional Class A share of the Corporation
for a period of 18 months from the closing of the Offering (the “Closing”) at a price of $0.51.
Each Charity FT Unit will consist of one Charity flow-through Class A share of the Corporation and
one-half of a Class A share purchase warrant (each whole common share purchase warrant, a
“Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Class A share of
the Corporation for a period of 18 months from the closing of the Offering (the “Closing”) at a price
of $0.51.
The gross proceeds received by the Corporation from the sale of the 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 Québec, 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. For purchasers of FT Shares resident in the Province
of Québec, 10% of the amount of CEE will be eligible for inclusion in the deductible “exploration
base relating to certain Québec exploration expenses” and 10% of the amount of the expenses
will be eligible for inclusion in the deductible “exploration base relating to certain Québec surface
mining exploration expenses” (as such terms are defined in the Taxation Act (Québec),
respectively) giving rise to an additional 20% deduction for Québec tax purposes.
The securities being offered have not, nor will they be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable
exemption from the U.S. registration requirements. This release does not constitute an offer for
sale of securities in the United States.
The Offering is scheduled to close on or about November 12, 2020 and is subject to c ertain
conditions including, but not limited to, the receipt of all necessary regulatory and other approvals
including that of the TSX Venture Exchange.
About Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in
the Bousquet -Cadillac mining camp along the world- renowned Larder -Lake-Cadillac Break in
Abitibi, Québec. The Bousquet -Cadillac mining camp has produced over 21,000,000 ounces of
gold over the last 100 years. The project hosts the former O’Brien Mine, 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; 3D Geo-solution, July 2019).
On behalf of the board of directors
Mario Bouchard
CEO, director
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Hubert Parent-Bouchard
Corporate development
819-763-9969
Certain information contained in the press release are subject to receipt of all regulatory approvals.
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
All statements, other than statements of historical fact, contained in this press release including,
but not limited to, those relating to the intended use of proceeds of the Offering, the development
of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph
which essentially describes the Corporation’s outlook, constitute “forward-looking information” or
“forward-looking statements” within the meaning of applicable securities laws, and are based on
expectations, estim ates and projections as of the time of this press release. Forward- looking
statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Corporation as of the time of such statements, are inherently subject
to significant business, economic and competitive uncertainties and contingencies. These
estimates and assumptions may prove to be incorrect. Many of these uncertainties and
contingencies can directly or indirectly affect, and could cause, actual res ults to differ materially
from those expressed or implied in any forward-looking statements and future events, could differ
materially from those anticipated in such statements. 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.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both
general and specific, and risks exist that estimates, forecasts, projections and other forward -
looking statements will not be achieved or that assumptions do not reflect fut ure experience.
Forward-looking statements are provided for the purpose of providing information about
management’s endeavors to develop the O’Brien project and, more generally, its expectations
and plans relating to the future. Readers are cautioned not t o place undue reliance on these
forward-looking statements as a number of important risk factors and future events could cause
the actual outcomes to differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates, assumptions and intentions expressed in such forward- looking
statements. All of the forward-looking statements made in this press release are qualified by these
cautionary statements and those made in our other filings with the securities regulators of Canada.
The Corporation disclaims any intention or obligation to update or revise any forward- looking
statements or to explain any material difference between subsequent actual events and such
forward-looking statements, except to the extent required by applicable law.