Radisson announces election of directors and Agm results
Rouyn-Noranda, Quebec, June 5, 2017: Radisson Mining Resources Inc. (TSXV: RDS) (“Radisson”) announces that the six candidates designated in the management proxy circular dated May 9, 2017 were elected to the Corporation’s Board of Directors during the shareholder’s annual meeting held in Rouyn-Noranda on June 2, 2017.
The shareholders were represented in person or by proxy by 39,494,740 class A shares, or 36.71% of the 107,594,357 outstanding class A shares. Voting results are presented below.
Grant of stock options
On June 2nd 2017, the Board of Directors awarded a total of 790,000 stock options to directors, officers and one employee of the company. Pursuant to terms of the stock options plan each option grants the holder thereof the right to purchase one class A share at a price of $ 0.165 until June 2nd, 2022. Following the grant of stock options and pursuant to terms of the stock options plan, there are currently 2,935,000 stock options outstanding.
The company announces the exercise of 300,000 stock options by two directors, resulting in the emission of 300,000 class A shares at a price of $ 0.10. As a result of this stock option exercise, there are currently 107,594,357 class A shares of Radisson issued and outstanding.
The company announces it has retained Mackie subject to regulatory approval; it has retained Mackie Research Capital Corporation to initiate its market making service to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. Mackie will trade shares of Radisson on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Radisson’s class A shares. The agreement between Mackie and the Company is for a minimum 3 months term and the Company has agreed to pay Mackie $4,000 per month during the term, payable quarterly in advance. After the 3 months period, either party with written notice of 30 days may terminate the engagement. The Company and Mackie act at arm’s length and there are no performance factors contained in the agreement between Mackie and the Company and Mackie will not receive any shares or options from the Company as compensation for services it will render.
About Radisson Mining Resources Inc.
Radisson is a Quebec-based mineral exploration company. The O’Brien project, cut by the regional Larder-Lake-Cadillac Fault, is Radisson’s main asset. The former O’Brien Mine, is considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; InnovExplo, April 2015).
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For more information on Radisson, please visit our website at www.radissonmining.com or contact:
Mario Bouchard, President & Chief Executive Officer
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 release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Forward-Looking Statements: This press release may contain certain forward-looking information. All statements included herein, but other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com.