|By Marketwired .||
|July 14, 2014 08:13 AM EDT||
ROUYN-NORANDA, QUEBEC -- (Marketwired) -- 07/14/14 -- Radisson Mining Resources Inc. (TSX VENTURE: RDS) ("Radisson") is happy to announce that it has closed a $355,000 private placement on July 14, 2014.
The private placement proceeds will be used for the development and enhancement of the O'Brien project, for the Lac Gouin SSO and for various corporate expenses.
As part of this placement, Radisson has issued 1,287,000 common shares at a price of $0.12 and 802,240 flow-through shares at a price of $0.25 each.
A director has bought 77,600 flow-through shares and 20,000 common shares for a total price of $21,800.
Frontier Merchant Capital Group which is responsible for investor relations for Radisson participates in the placement with an amount of $85,200 for 710,000 common shares.
Radisson has retained Frontier Merchant Capital Group in order to increase the company's visibility with financial markets. Consequently, over the next year, FMCG will be facilitating in-person introductions and presentations for brokers, investment funds as well as institutional and private investors. These meetings will be held in Montreal, Toronto, Calgary,Vancouver and in the United States. (Consult the June 2nd, 2014 press release.)
SIDEX participated in the placement for a total of $50,000 for 416,666 common shares under its "Field-Action 2014" Program. Administrative fees amounting to $1,500 are included in the placement.
The mission of SIDEX is to invest in companies engaged in mineral exploration in Quebec in order to diversify Quebec's mineral base and open new territories to exploration and investment.
"Field Action 2014" is a new $3-Million financing program recently launched by SIDEX to encourage junior mineral exploration companies to pursue field work in Quebec, hire young professionals, employ service companies, and make new discoveries in 2014.
On July 9th 2014, Radisson Mining Resources still holds 300,000 shares of Balmoral Resources (TSX : BAR) with a value exceeding $500,000.
ABOUT RADISSON MINING RESOURCES:
Radisson is a mining exploration company located in Quebec. The properties next to O'Brien and Kewagama, intersected by the regional Cadillac fault, are Radisson's main asset. The old O'Brien mine, considered the main high-grade gold producer of the Abitibi green rock belt when it was in production (1,310,356 short tons at 0,448 oz/t between 1925-1956; RPA, May 2007) can be found there. The Company concentrates its exploration efforts in Zone 36East located at about 2,000 feet (610 meters) east of the old O'Brien mine's main shaft.
The TSX Venture Exchange and its supplier of regulatory services (according to the definition of this term in the TSX Venture Exchange policies) accept no responsibility concerning the relevance or the accuracy of this release.
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