ORIGINAL: Radius Gold Increases Proposed Private Placement Financing to $1.97 Million
2023-05-18 07:01 ET - News Release
(via TheNewswire)
Vancouver, B C - TheNewswire - May 17, 2023 - Radius Gold Inc. (TSXV:RDU) (“ Radius ” or the “ Company ”) is pleased to report that its previously announced proposed non-brokered private placement is over-subscribed, and accordingly has been increased to 11,259,983 units at a price of $0.175 per unit, for gross proceeds of $ 1,970,497 . Each unit will consist of one common share of the Company and one warrant which will entitle the holder to purchase one common share at a price of $0.35 for a period of 24 months following the closing of the private placement.
The Company may pay a finder’s fee on a portion of the units sold. The net proceeds of the private placement are intended to be used to fund drilling and exploration efforts on Radius’s Tropico project, Mexico and for general working capital. Completion of the private placement is subject to approval by the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to the applicable statutory four-month hold period.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States or in any other jurisdiction. The securities referred to in this news release have not been and will not be registered under the U.S. Securities Act and may not be offered or sold without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption from such registration.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, United States and Guatemala which it continues to advance, utilizing partnerships where appropriate in order to retain the Company’s treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway.
ON BEHALF OF THE BOARD
Bruce Smith