/CNW/ - Richmond Minerals Inc. (
Richmond Minerals Inc. Provides Update on
Non-Brokered Private Placement
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TORONTO
,
Jan. 8, 2019
/CNW/ - Richmond Minerals Inc. (
TSX-V: RMD
) ("
Richmond
or the
"
Corporation
") wishes to correct its news release dated
January 3, 2019
with respect to the status
of the previously announced on
January 2, 2019
non-brokered private placement of up to 4,000,000
flow-through units of the Corporation ("
FT Units
") at a price of
$0.05
per FT-Unit. (the "
Offering
").
Each FT Unit consists of one (1) common share in the capital stock of
Richmond
(a "
Common
Share
") issued on a flow-through basis within the meaning of the
Income Tax Act
(
Canada
) and one-
half (½) of one Common Share purchase warrant (a "
Warrant
"). Each Warrant will entitle the holder
to purchase one Common Share at a price of
$0.08
for (2) years following the closing date of the
Offering.
In its
January 3, 2019
release, the Company has inadvertently stated that the Company has
completed the Offering. The Company wishes to retract this statement and to confirm that the
completion of the Offering is subject to receipt of approvals of the TSX Venture Exchange ("TSX-
V").
Richmond
, having received sufficient interest in the Offering, expects to close the Offering in the
coming days and will issue a subsequent news release announcing the closing.
The securities issued and issuable pursuant to the Offering will be subject to a four month and one
day statutory hold period.
Richmond
intends to use the net proceeds from the offering to fund "Canadian exploration expenses"
(within the meaning of the
Income Tax Act
(
Canada
)) and for continued exploration on
Richmond's
assets and for general working capital purposes.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary
approvals, including the approval of TSX-V and applicable securities regulatory authorities.
CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is
defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this
release.
This news release includes certain information that may constitute "forward-looking information"
under applicable Canadian securities legislation. "Forward-looking information" can often, but not
always, be identified by the use of words such as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". These statements are based on information currently
available to the Company, and the Company provides no assurance that actual results will meet
management's expectations. Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward looking
information in this news release includes, but is not limited to,
Richmond's
objectives, goals or future
plans, including successful completion of the Offering. Factors that could cause actual results to
differ materially from such forward-looking information include, but are not limited to, changes in
general economic conditions and conditions in the financial markets; changes in demand and prices
for minerals; litigation, legislative, environmental and other judicial, regulatory, political and
competitive developments, and those risks set out in
Richmond's
public documents filed on SEDAR.
Although
Richmond
believes that the assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed time frames or at all.
Richmond
disclaims any intention or
obligation to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law.
SOURCE
Richmond Minerals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/January2019/08/c3056.html
%SEDAR: 00009282E
For further information:
Warren Hawkins, P. Eng., Exploration Manager, E:
[email protected], Tel: 416-603-2114
CO: Richmond Minerals Inc.
CNW 17:00e 08-JAN-19