TORONTO, Jan. 23, 2014 /CNW/ - Richmond Minerals Inc. (TSX-V: RMD)
("Richmond" or the "Company") is pleased to announce the closing of a
$105,000 Non-Brokered Private Placement announced on January 14, 2014
in which the Company will issue 2,100,000 units priced at $0.05 per
unit. Each unit consists of one common share issued on a "flow through"
basis, plus one whole share purchase warrant entitling the holder
thereof to purchase an additional "non-flow through" common share of
Richmond at a price of $0.10 for a period of 18 months. The flow
through common shares issued will be subject to a four month hold
period that expires on May 16, 2014.
In connection with this private placement, Richmond will pay a finder's
fee of $3,500 and issue 70,000 finder's warrants. The TSX-Venture
Exchange has accepted for filing documentation with respect to this
Non-Brokered Private Placement.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure
in this release constitute forward-looking statements. In making the
forward-looking statements in this release, the Company has applied
certain factors and assumptions that are based on the Company's current
beliefs as well as assumptions made by and information currently
available to the Company. Although the Company considers these
assumptions to be reasonable based on information currently available
to it, they may prove to be incorrect, and the forward-looking
statements in this release are subject to numerous risks, uncertainties
and other factors that may cause future results to differ materially
from those expressed or implied in such forward-looking statements.
Such risk factors include, among others, that the litigation will be
resolved. Readers are cautioned not to place undue reliance on
forward-looking statements. The Company does not intend, and expressly
disclaims any intention or obligation to, update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.
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
On Behalf of Richmond Minerals,
President and CEO
SOURCE: Richmond Minerals Inc.
For further information:
Franz Kozich, President or Warren Hawkins, Exploration Manager at (416) 603-2114