Radisson Closes C$57 Million Strategic Investment
Rhea-AI Summary
Radisson Mining Resources (OTCQX: RMRDF, TSXV: RDS) closed its previously announced non-brokered private placement with Agnico Eagle Mines, issuing 53,420,000 units at C$1.07 per unit for gross proceeds of C$57,159,400. Each unit includes one Class A common share and half a warrant, with full warrants exercisable at C$1.39 per share for 60 months.
According to Radisson, Agnico Eagle now holds about 10.45% of common shares on a non-diluted basis and 14.90% on a partially diluted basis. Proceeds will fund an advanced underground exploration program at the 100%-owned O'Brien Gold Project in Québec, including an access ramp and mine infrastructure, while the ongoing 140,000‑metre step‑out drill program remains funded from existing cash. An investor rights agreement with Agnico Eagle was executed at closing. Securities carry a hold period until January 2, 2027, and the placement remains subject to final TSX Venture Exchange acceptance.
Positive
- C$57.16 million gross proceeds raised via strategic private placement
- Strategic investor Agnico Eagle acquires 53,420,000 units and up to 14.90% partially diluted ownership
- Proceeds earmarked for advanced underground exploration at 100%-owned O’Brien Gold Project
- Ongoing 140,000-metre step-out drill program remains funded from existing cash
- No commissions or finder’s fees paid on the non-brokered financing
Negative
- Issuance of 53,420,000 new units increases share count and dilutes existing shareholders
- Additional dilution potential from unit warrants exercisable at C$1.39 for 60 months
AI-generated analysis. How Rhea-AI works. Not financial advice.
Rouyn-Noranda, Quebec--(Newsfile Corp. - September 1, 2026) - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQX: RMRDF) ("Radisson" or the "Company") is pleased to announce that it has closed its previously announced private placement of units with Agnico Eagle Mines Limited ("Agnico Eagle"). Under the terms of the private placement, Agnico Eagle purchased 53,420,000 units of the Company at a price of C
The proceeds of the private placement will fund the commencement of an advanced underground exploration program at Radisson's
The investor rights agreement between the Company and Agnico Eagle described in the Company's news release dated August 24, 2026 was executed concurrently with the closing of the private placement.
The private placement was completed on a non-brokered basis and no commissions or finder's fees were paid in connection with it. The securities issued under the private placement are subject to a hold period expiring on January 2, 2027. The private placement remains subject to the final acceptance of the TSX Venture Exchange.
About Radisson Mining
Radisson is a gold exploration company focused on its
Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com
Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com
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 PRESS RELEASE.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding: the receipt of final acceptance of the TSX Venture Exchange in respect of the private placement; the operation of the investor rights agreement, including the participation, top-up, and board nomination rights, and the restrictions applicable to specified transactions involving the Company's mineral properties; the commencement, scope, timing and advancement of the advanced underground exploration program at O'Brien, including engineering, permitting, ramp development, related surface infrastructure and water management facilities; the allocation and use of the proceeds of the private placement; the continuation and results of the Company's ongoing drill program; the potential growth of O'Brien's mineral resources; and the evaluation and potential development of O'Brien, including potential development scenarios involving existing regional infrastructure.
Forward-looking information is based on assumptions and estimates that management considers reasonable as of the date of this news release, including assumptions regarding the receipt of final acceptance of the TSX Venture Exchange, the availability of permits and other authorizations, project schedules and costs, geological and technical results, commodity prices, access to labour, equipment and services, and the Company's ability to execute its planned exploration and development activities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including the risk that final acceptance of the TSX Venture Exchange is delayed or not obtained; that required approvals or permits are delayed or not obtained; that the exploration program or use of proceeds changes; that actual costs, schedules, geological, geotechnical, metallurgical or other technical results differ from expectations; risks inherent in mineral exploration and development; commodity price and capital market volatility; changes in laws and regulations; and other risks described in the Company's public disclosure. Although the Company believes the assumptions underlying such forward-looking information are reasonable, no assurance can be given that they will prove correct. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information except as required by applicable law.
Please refer to the "Risks and Uncertainties Related to Exploration" and the "Risks Related to Financing and Development" sections of the Company's Management's Discussion and Analysis dated April 23, 2026 for the year ended December 31, 2025 available electronically on SEDAR+ at www.sedarplus.ca. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312356