Radisson Announces Upsize of Previously Announced Private Placement to $12 Million
Radisson Announces Upsize of Previously
Announced Private Placement to $12 Million
Rouyn-Noranda, Quebec--(Newsfile Corp. - April 23, 2025) -
Radisson Mining Resources Inc.
(TSXV: RDS) (OTCQB: RMRDF)
("
Radisson
" or the "
Company
") is pleased to announce that, due to
strong demand, including from existing shareholders and institutional investors, its previously announced
private placement (the "
Offering
"), is now oversubscribed. The Company has elected to upsize the
Offering for aggregate gross proceeds of C$12,070,000 with the proceeds directed towards advancing
the exploration and development of the Company's O'Brien Gold Project located in the Abitibi region of
Québec.
The Offering will include the sale of the following securities (collectively, the "
Securities
"):
Class A common shares of the Company (the "
FT Shares
") which shall each qualify as a "flow-
through share" as defined in subsection 66(15) of the Income Tax Act (Canada) ("
ITA
") and
section 359.1 of the
Taxation Act
(Québec) (the "
Québec Tax Act
"),
at a price of C$0.34 per FT
Share
; and,
Class A common shares of the Company ("
Common Shares
")
at a price of C$0.30 per Common
Share
.
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, 2025, in the
aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT
Shares.
The closing of the Offering is expected to occur on or about May 15, 2025, and is subject to receipt of all
necessary regulatory approvals including the acceptance of the Offering by the TSX Venture Exchange.
All securities issued pursuant to the Offering will be subject to a four month hold period from the date of
issue. A finder's fee may apply to a portion of the proceeds raised under the Offering in the amount of
6% cash.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities
described herein 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, and may not be offered or
sold in the United States or to the account or benefit of a U.S. person absent an exemption from the
registration requirements of such Act.
It is anticipated that one or more directors will acquire Securities under the Offering. Any such
participation will be considered a "related party transaction" as defined under Multilateral Instrument 61-
101 ("
MI 61-101
"). It is anticipated that the transaction will be exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 based on a determination that the securities of
the Company are listed on the TSXV and that the fair market value of the Offering, insofar as it involves
interested parties, will not exceed 25% of the market capitalization of the Company.
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O'Brien Gold 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 25 million ounces of gold over the last
100 years. The Project hosts the former O'Brien Mine, considered to have been Québec's highest-grade
gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces
(1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million
ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 "Technical Report on the O'Brien
Project, Northwestern Québec, Canada" effective March 2, 2023 and other filings made with Canadian
securities regulatory authorities available at
www.sedarplus.ca
for further details and assumptions
relating to the O'Brien Gold Project.
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
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of the applicable
Canadian securities legislation that is based on expectations, estimates, projections, and
interpretations as at the date of this news release. Forward-looking statements including, but are not
limited to, statements with respect to the closing of the Offering, the planned and ongoing drilling, the
significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any
resource, the ability to incorporate new drilling in an updated technical report and resource modelling,
the Company's ability to grow the O'Brien project and the ability to convert inferred mineral resources
to indicated mineral resources. Any statement that involves discussions with respect to predictions,
expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as "expects", or "does not expect", "is
expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and
phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be
taken to occur or be achieved) are not statements of historical fact and may be forward-looking
information and are intended to identify forward-looking information. Except for statements of historical
fact relating to the Company, certain information contained herein constitutes forward-looking
statements Forward-looking information is based on estimates of management of the Company, at
the time it was made, involves known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the companies to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking
information. Such factors include, among others, risks relating to the drill results at O'Brien; the
significance of drill results; the ability of drill results to accurately predict mineralization; the ability of
any material to be mined in a matter that is economic. Although the forward-looking information
contained in this news release is based upon what management believes, or believed at the time, to
be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of
securities that actual results will be consistent with such forward-looking information, as there may be
other factors that cause results not to be as anticipated, estimated or intended, and neither the
Company nor any other person assumes responsibility for the accuracy and completeness of any
such forward-looking information. The Company believes that this forward-looking information is
based on reasonable assumptions, but no assurance can be given that these expectations will prove
to be correct and such forward-looking statements included in this press release should not be unduly
relied upon. The Company does not undertake, and assumes no obligation, to update or revise any
such forward-looking statements or forward-looking information contained herein to reflect new events
or circumstances, except as may be required by law. These statements speak only as of the date of
this news release.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/249460