Richmond Minerals Announces Private Placement

Richmond Minerals Announces Private Placement

TORONTO, July 10, 2018 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) ("Richmond") is pleased to

announce that it intends to complete a non-brokered private placement of up to 2,500,000 flow through

units (FT Units") at a price of $0.08 per FT Unit, for gross proceeds of approximately $200,000 (the

"Offering"). Closing of the Offering is expected to occur on or about July 31, 2018.

Each FT Unit will consist of one (1) common share in the capital stock of the Issuer that is a "flow-through

share" within the meaning of the Income Tax Act (Canada) ("Common Share") and one-half (½) of one

common share purchase warrant (a "FT Warrant"). Each whole FT Warrant will entitle the holder to

purchase one common share at a price of $0.10 per common share until the date which is two (2) years

following the closing date of the Offering, whereupon the FT Warrants will expire.

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 the TSX Venture Exchange ("TSX-V") and applicable securities

regulatory authorities.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the

"U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to persons in the

United States absent registration or an exemption from such registration requirements. This press release

shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the

securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 contains forward-looking information which is not comprised of historical facts.

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/July2018/10/c7945.html

%SEDAR: 00009282E

For further information: Warren Hawkins, P. Eng., Exploration Manager, E:

[email protected], Tel: 416-603-2114, Fax: 416-603-8436

CO: Richmond Minerals Inc.

CNW 17:02e 10-JUL-18