Richmond Minerals Inc. Announces C$100,000 Non-Brokered Private Placement
Richmond Minerals Inc. Announces C$100,000
Non-Brokered Private Placement
TORONTO
,
April 5, 2019
/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 1,000,000 hard
dollar units ("
Units
") at a price of
C$0.05
per Unit, and 1,000,000 flow through units ("
FT Units
") at
a price of
C$0.05
per FT Unit, for aggregate gross proceeds of approximately
C$100,000
(the
"
Offering
"). Closing of the Offering is expected to occur on or about
April 30, 2019
.
Each Unit will consist of one (1) common share in the capital stock of
Richmond
(
"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
C$0.07
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
Richmond
that is a "flow-
through share" within the meaning of the
Income Tax Act
(
Canada
) (a
"FT Share
") and one Warrant.
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/April2019/05/c7607.html
%SEDAR: 00009282E
For further information:
Warren Hawkins, P. Eng., Exploration Manager, E:
[email protected], Tel: 416-603-2114
CO: Richmond Minerals Inc.
CNW 16:30e 05-APR-19