Radisson appoints Rahul Paul as Chief Financial Officer
Rouyn-Noranda, Quebec: Radisson Mining Resources Inc. (“Radisson” or the “Company“) (TSX.V: RDS, OTC: RMRDF) is pleased to announce it has appointed Rahul Paul, as Chief Financial Officer. Mr. Paul is a key addition to Radisson’s management in order to optimize value creation for the company’s shareholders through the exploration and development of the High-grade O’Brien Gold project, located along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. (See figure 1 and figure 2).
Mr. Paul has more than twelve years of capital markets experience almost exclusively focused on the mining sector. He began his capital markets career in 2006 when he joined the equity research team at Westwind Partners. He was more recently Director, Research – Precious Metals at Canaccord Genuity, where he covered small/intermediate gold producers and developers for almost 10 years. After leaving the sell-side in February 2019, he has continued his involvement with mining companies helping with corporate development and capital markets/strategic advisory services. During his extensive capital markets career, he worked with a wide range of mining companies and institutional investors clients. He has been involved with several successful North American gold companies through bull/bear markets and through entire business cycles. He has helped several companies manage growth and unlock value by increasing market awareness, facilitating investor outreach, assisting financing/corporate development initiatives and helping manage market expectations/risk as they advanced projects from early stage exploration through production. He holds a Master of Business Administration (Finance) degree from Western University and an undergraduate engineering degree the University of Kerala.
“We are thrilled to have Rahul join the company. Over the course of his career in the capital markets, he completed numerous due diligences on companies and mining projects. He was also involved in multiple financial transactions, while helping companies broader their shareholders base, developing strong analytical and communication skills and an extensive network. Having Rahul onboard as CFO will benefit Radisson and its shareholders greatly”, commented Mario Bouchard, President & CEO Radisson Mining Resources.
“I am excited to join a team that has done an outstanding job with the O’Brien project. In a sector starved of high-grade deposits in low-risk, established jurisdictions, I consider the O’Brien project to be one of the most promising undeveloped gold projects we have seen in recent times. In the last several years, I have had the opportunity to work closely with companies such as Richmont Mining, Claude Resources and Lakeshore Gold who successfully advanced high-grade gold projects before ultimately being acquired by larger gold producers. I see immense potential in the O’Brien project, which is already one of the highest-grade undeveloped gold projects in Canada with an indicated grade of 9.48 g/t Au. The project’s location in the established Cadillac Camp in Abitibi, Quebec is also a significant advantage, providing access to extensive infrastructure, milling facilities and skilled labour to lower development/operating risk and potentially support robust economics as a low-cost gold producer in the future. But what attracts me the most are the very high grades mined historically (587 koz grading 15.25 g/t Au from 1926-57) from the O’Brien mine as well as the new litho-structural model that suggests the potential for a meaningful increase in grades and tonnage with better targeted drilling. I look forward to work with the Radisson team to unlock value from the O’Brien project through targeted exploration efforts.
“I believe this is a great time to be joining Radisson as a 20,000 m drill program is picking up pace. This represents the first major drill campaign using the new model to target high-grade zones. While results so far are impressive and help validate the new model, the team is just getting started. I eagerly look forward to additional results from drilling and a steady stream of news flow in the coming months.”, commented Rahul Paul, CFO of Radisson Mining Resources.
Radisson further announces that, pursuant to the Company’s stock options plan, it has granted to Mr. Paul stock options to acquire 700,000 Class A shares at an exercise price of $0.20 per share for a term of five years expiring November 1, 2024. Of these options, 50% will vest on signing, and the remaining 50% will vest at the 2020 Annual Shareholder’s Meeting (June 2020).
Performance stock options
In addition, Mr. Paul will have the opportunity, to earn a maximum of up to 1,000,000 performance stock options to acquire Class A shares of the company at an exercise price of $0.27 per share for a term of five years from vesting date. The stock options will be rewarded based on a series of 4 performance objectives, the options will only be awarded if the objectives are fully realized and would be granted in tranches of a minimum of 200,000 up to 400,000.
The objectives are related to the company’s market capitalization, balance sheet and market awareness of the company and would create significant value for Radisson shareholders if achieved.
About Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, 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; Kenneth Williamson 3DGeo-Solution, July 2019). For more information on Radisson, visit our website at www.radissonmining.com or contact:
On behalf of the board of directors
President and CEO, director
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Director, Corporate development
Certain information contained in the press release are subject to receipt of all regulatory approvals. 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.
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the development of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. 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.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavours to develop the O’Brien project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.