Richmond Minerals Inc. Announces $402,000 Non-Brokered Private Placement
Trading Symbol TSX(V): RMD
Boerse Frankfurt: WKN A1W98A: R52
Bus. (416) 603-2114; Fax (416) 603-8436
Richmond Minerals Inc., 133 Richmond W, Suite 403, Toronto, Ontario M5H 2L3
Richmond Minerals Inc. Announces $402,000 Non-Brokered Private Placement
Toronto, Ontario, October 24, 2017 – Richmond Minerals Inc. (TSX-V: RMD) (“Richmond”) is pleased to
announce that it intends to complete a non-brokered private placement of up to 1,700,000 hard dollar units (“Units”)
at a price of CAN$0.0 6 per Unit, for gross proceeds of approximately $102,000, and 3,750,000 flow through units
(FT Units ”) at a price of $0.08 for gross proceeds of approximately $3 00,000 (the “ Offering”). Closing of the
Offering is expected to occur on or about November 30, 2017.
Each Unit will consist of one (1) common share in the capital stock of the Issuer ( “Common Share ”) and one
common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share
at a price of CAN$0.10 per common share until the date which is two (2) years following the closing date of the
Offering, whereupon the Warrants will expire.
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 sha re
at a price of CAN$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 sec urities
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 ex emption 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.
For information, please contact:
Warren Hawkins, P. Eng.
Exploration Manager
Tel: 416-603-2114
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. F orward-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, g oals 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 comp etitive 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.