Radius Gold completes $1.95 million private placement financing
news release
May 30, 2023
Radius Gold completes $1.95 million private placement financing
Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to
announce that it has closed its previously announced non-brokered private placement with the issuance
of 11,149,983 units at a price of $0.175 per unit, for gross proceeds of $1,951,247. Each unit consists of
one common share of the Company and one warrant which entitles the holder to purchase one common
share at a price of $0.35 for a period of 24 months following the closing of the private placement.
In connection with the placement, the Company paid finder’s fees totaling $39,627 in cash and issued a
total of 226,442 warrants with the same terms as the unit warrants. The net proceeds of the private
placement are intended to be used to fund drilling and exploration efforts o n Radius’s Tropico project ,
Mexico and for general working capital.
The common shares and warrants issued on closing are subject to a regulatory resale restriction until
September 30, 2023. The placement is subject to final approval of the TSX Venture Exchange.
As certain of the placees are deemed to be “related parties” to the Company, the private placement
constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and
Multilateral Instrument 61 101 Protection of Minority Security Holders in Special Transactions (“MI
61-101”). The Company has relied on exemptions from the formal valuation and minority shareholder
approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101.
Radius Gold Inc.
Radius has a portfolio of projects located in M exico, United States and Guatemala which it continues to
advance, utilizing partnerships where appropriate in order to retain the Company’s treasury. At the same
time, management is seeking out additional investment and project acquisition opportunities a cross the
globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway.
ON BEHALF OF THE BOARD
Bruce Smith
President and CEO
Symbol: TSXV-RDU
-2-
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: [email protected]
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward -looking statements within the meaning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-
looking statements and include, without limitation, statements about the intended use of the private placement
proceeds. Often, but not always, these forward looking statements can be identified by the use of words such as
“estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”,
“has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”,
“periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including
negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
the act ual results, performance or achievements of the Company to be materially different from any results,
performance or achievements expressed or implied by forward -looking statements. Such uncertainties and factors
include, among others, whether the proceeds of the private placement will be spent as planned; changes in general
economic conditions and financial markets; the Company or any joint venture partner not having the financial ability
to meet its exploration and development goals; risks associated with the results of exploration and development
activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated
costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with
securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. 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 statements, there may be other factors that cause actions,
events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the Company’s stated goals and the planned exploration and
development activities at its properties will be achieved; that the private placement proceeds will be spent as planned;
that there will be no material adverse change affecting the Company or its properties; and such other assumptions
as set out herein. Forward -looking statement s are made as of the date hereof and the Company disclaims any
obligation to update any forward-looking statements, whether as a result of new information, future events or results
or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, investors should not place undue reliance on forward-looking statements.