VANCOUVER, Nov. 19 /PRNewswire-FirstCall/ - Mr. Simon Ridgway is pleased to report that Radius
Gold Inc. has increased its previously announced non-brokered
private placement to a maximum of 5,800,000 flow-through common
shares at $0.65 per share, for gross
proceeds of up to $3,770,000.
The Company has agreed to allocate a portion of
the offering to subscribers found by Axemen Resource Capital Ltd.
The Company will pay finder's fees equal to 5% of subscription
amounts found, payable in cash or shares, plus finder's warrants in
an amount equal to 5% of shares subscribed for, with each such
finder's warrant exercisable into one common share of the Company
at a price of $0.70 for 18 months
from closing.
Closing of the financing is anticipated to occur
on or before December 6, 2010 and is
subject to receipt of TSX Venture Exchange acceptance. Securities
issued under the private placement will be subject to a hold period
which will expire four months and one day from the date of
closing.
The net proceeds of the financing will be used
for exploration of the Company's Sixty Mile property in
Yukon territory and its other
Yukon properties.
About Radius
Radius has been exploring for gold in
Latin America for nearly a decade,
and has assembled interests in a portfolio of promising gold
projects throughout the region, including carried stakes in two
small-scale developing gold projects in Guatemala and Nicaragua. Radius also has
two 100% owned exploration plays, the HB property in Guatemala and the Sixty Mile property in the
Yukon Territory.
ON BEHALF OF THE BOARD
"Simon Ridgway"
Simon Ridgway, President &
CEO
Investor relations: Ralph
Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 73.6-million
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this release.
Forward-Looking Statement
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Radius Gold Inc. Actual
results may differ materially from those currently anticipated in
such statement.
SOURCE Radius Gold Inc.
Copyright . 19 PR Newswire
