Radisson Announces Closing of Previously Announced $12 Million Oversubscribed Private Placement

Rhea-AI Summary

Radisson Mining Resources (OTCQB: RMRDF) has successfully closed an oversubscribed private placement raising $12.07 million. The offering included 4.5M common shares at C$0.30 and 31.5M flow-through shares at C$0.34. The proceeds will fund Canadian Exploration Expenses at the O'Brien Gold Project in Quebec. The project, located in the Bousquet-Cadillac mining camp, hosts the former O'Brien Mine, historically Quebec's highest-grade gold producer. Current resources include 0.50M ounces indicated (1.52M tonnes at 10.26 g/t Au) and 0.45M ounces inferred (1.60M tonnes at 8.66 g/t Au). The company plans to expand its ongoing 22,000-metre drill program, focusing on exploring mineralization below the existing resources, where recent drilling has revealed promising high-grade gold intercepts.

Positive

• Successfully raised $12.07M through an oversubscribed private placement
• Recent drilling below O'Brien mine revealed multiple high-grade gold intercepts
• Strong treasury position enables aggressive exploration expansion
• Current drilling program ongoing with three rigs

Negative

• Shares issued in the placement are subject to a 4-month hold period
• 75% of current mineral resources are limited to depths of only 600 metres
• Dilution from the issuance of 36M new shares

Rouyn-Noranda, Quebec--(Newsfile Corp. - May 15, 2025) - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQB: RMRDF) ("Radisson" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering") for total gross proceeds of $12,070,000. Pursuant to the closing, Radisson issued: (i) 4,500,001 Class A common shares of the Company ("Common Shares") at a price of C$0.30 per Common Share, and; (ii) 31,529,411 Class A common shares of the Company (the "FT Shares"), which shall each qualify as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada) ("ITA") and section 359.1 of the Taxation Act (Québec) (the "Québec Tax Act"), at a price of C$0.34 per FT Share.

Matt Manson, President and CEO, commented: "We would like to thank those new and existing shareholders who have participated in this successful financing. Since late last year, we have been achieving consistent success with our strategy of drilling below the existing Mineral Resources at the O'Brien Gold Project. In particular, we are excited by what is developing with our drilling below the historic O'Brien mine workings, where multiple drill holes have intersected high-grade gold intercepts, delineating a large zone of multiple veins with good continuity. We believe the historic O'Brien mine and the current Mineral Resources, 75% of which are defined to depths of only 600 metres, represent the near-surface portions of a much larger mineralizing system that extends to depth, with considerable scale potential. Our strengthened treasury will now allow us to pursue this potential aggressively. Drilling is ongoing with three rigs on our original 22,000 metre 2025 drill program, and additional assay results are upcoming. We expect to release details of an expanded and extended drill program at O'Brien, shortly."

Gross proceeds received by the Company from the sale of the FT Shares will be used to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the O'Brien Gold Project in the Province of Québec, which will be renounced to the subscribers with an effective date no later than December 31, 2025, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares.

Insiders of the Company have subscribed in the Offering for a total of 509,360 FT Shares under the Offering which "related parties' transactions" within the meaning of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101") and TSXV Policy 5.9 – Protection of Minority Security Holders in Special Transactions. Each insider that participated in the Offering disclosed their respective interest in the Offering and the directors of the Company who voted in favour of the Offering have determined, based on advice from counsel and management, that the exemptions from formal valuation and minority approval requirements provided for respectively under subsections 5.5(a) and 5.7(1)(a) of Regulation 61-101 can be relied on as neither the fair market value of the FT Shares issued to insiders nor the fair market value of the consideration paid exceed 25% of the Company's market capitalization. None of the Company's directors has expressed any contrary views or disagreements with respect to the foregoing. A material change report concerning this related party transaction will be filed by the Company.

All Offered Securities issued pursuant to this Offering are subject to a restricted hold period of four months and a day, ending on September 16, 2025, under applicable Canadian securities legislation. The Offering remains subject to the final approval of the TSX Venture Exchange (the "TSXV").

In consideration for services rendered in connection with the Offering, finders' fees totaling $145,488.85 were paid by the Company.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.

Radisson Mining Resources Inc.

Radisson is a gold exploration company focused on its 100% owned O'Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O'Brien Mine, considered to have been Québec's highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 "Technical Report on the O'Brien Project, Northwestern Québec, Canada" effective March 2, 2023 and other filings made with Canadian securities regulatory authorities available at www.sedarplus.ca for further details and assumptions relating to the O'Brien Gold Project.

For more information on Radisson, visit our website at www.radissonmining.com or contact:

Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com

Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to the closing of the Offering, the planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling, the Company's ability to grow the O'Brien project and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at O'Brien; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Not for distribution to United States newswire services or for dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252299

FAQ

How much did Radisson Mining (RMRDF) raise in their May 2025 private placement?

Radisson Mining raised $12.07 million through an oversubscribed private placement, issuing 4.5M common shares at C$0.30 and 31.5M flow-through shares at C$0.34.

What are the current mineral resources at Radisson's O'Brien Gold Project?

The O'Brien Gold Project has Indicated Mineral Resources of 0.50M ounces (1.52M tonnes at 10.26 g/t Au) and Inferred Mineral Resources of 0.45M ounces (1.60M tonnes at 8.66 g/t Au).

How will Radisson Mining (RMRDF) use the proceeds from the private placement?

The proceeds will be used to incur Canadian Exploration Expenses at the O'Brien Gold Project in Quebec, particularly for expanding their drilling program below existing mineral resources.

What is the historical significance of Radisson's O'Brien Mine?

The O'Brien Mine was historically Quebec's highest-grade gold producer, located in the Bousquet-Cadillac mining camp which has produced over 25 million ounces of gold over the last 100 years.

When do the restricted shares from Radisson's May 2025 private placement become freely tradeable?

The shares issued in the private placement have a restricted hold period of four months and a day, ending on September 16, 2025.