VANCOUVER, July 7, 2011 /PRNewswire/ - Radius Gold Inc.
(TSXV: RDU) is pleased to announce that it has closed its
previously announced non-brokered private placement of $3.66 million by issuing 6.1 million units at
$0.35 per unit. Each unit
consists of one common share and one-half of a warrant, each whole
warrant entitling the holder to purchase one additional common
share at $0.75 exercisable for one
year. The Company also issued 199,250 common shares and
386,123 warrants as finders' fees in connection with the
financing. Each finder's fee warrant entitles the holder to
purchase one common share at $0.75
exercisable for one year. All of the shares and warrants have
a resale restriction until November 5,
2011.
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
a number of 100% owned exploration plays, including the HB property
in Guatemala and several
properties in the Rackla Belt and Sixty Mile placer gold district
in the Yukon.
ON BEHALF OF THE BOARD
"Simon Ridgway"
Simon Ridgway, President &
CEO
Investor relations: Ralph
Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 86.5-million
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this release.
SOURCE Radius Gold Inc.