VANCOUVER, June 22 /CNW/ - Radius Gold Inc. (TSX-V: RDU) is pleased to announce that it has closed its previously announced non-brokered private placement of $4.55 million by issuing 13 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 $0.50 exercisable for two years.
The Company also issued 525,766 common shares and 571,071 warrants as finders' fees in connection with the financing. Each finder's fee warrant entitles the holder to purchase one common share at $0.55 exercisable for one year. All of the shares and warrants have a resale restriction until October 18, 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: 72.9-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)