ROUYN-NORANDA, QUÉBEC--(Marketwired - March 27, 2014) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) ("Radisson") keeps moving forward with its development program for the O'Brien/Kewagama property and Zone 36 East with the on-going metallurgical studies and is also putting in place the required financement for the next steps.
To this end, Radisson has completed a private placement for $300,000 from investors through the issuance of 3,750,000 flow-through shares at a price of $0.08 per share; each of these 3,750,000 shares is accompanied by a half warrant-a whole warrant entitling its holder to subscribe to one common share at a price of $0.12 per share for a period of 18 months. A Québec institutional fund participated for $150,000 in the financing.
As part of this private placement, two directors have purchased 125,000 common shares for a total price of $10,000.
In addition, the Company paid a total of $7,093 in file assessment fees and commissions for two of the placements.
All shares issued under this placement are subject to a hold period of four months and one day.
ABOUT RADISSON MINING RESOURCES:
Radisson is a Québec-based mineral exploration company. The adjoining O'Brien and Kewagama properties, cut by the regional Cadillac Break, are Radisson's main asset. They contain the O'Brien Mine, which is considered to have been the highest grade gold producer of the Abitibi Greenstone Belt when it was in production (1,310,356 short tons at 0.448 oz/t from 1925 to 1956; RPA, May 2007). The Company is focusing exploration efforts on Zone 36 East, located approximately 2,000 feet (610 metres) east of the main shaft of the old O'Brien mine.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.