VANCOUVER, June 1 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to announce that it has closed its previously announced non-brokered private placement of $2.52 million by issuing 5,606,143 flow-through shares at a price of $0.45 per share. The Company issued 222,250 common shares and 222,250 warrants as finders' fees in connection with the financing. Each finder's fee warrant entitles the holder to purchase one common share at $0.50 exercisable for one year. All of the shares and warrants have a resale restriction until September 28, 2010.
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 Sixty Mile property in the Yukon territory - with drilling campaigns for 2010 in the planning stages.
ON BEHALF OF THE BOARD
Simon Ridgway, President & CEO
Investor relations: Ralph Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 59.4-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.
For further information: For further information: on Radius and its properties, please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com)