VANCOUVER, Dec. 8 /PRNewswire/ - Radius Gold Inc. (TSX-V: RDU) is pleased to announce that it has closed its previously announced non-brokered private placement of $3.77 million by issuing 5.8 million flow-through shares at a price of $0.65 per share. The Company issued 194,422 common shares and 259,230 warrants as finders' fees in connection with the financing. Each finder's fee warrant entitles the holder to purchase one common share at $0.70 exercisable for 18 months. All of the shares and warrants have a resale restriction until April 4, 2011.
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. In addition to its ATAC-belt claims, Radius also has two other 100% owned exploration plays, the HB property in Guatemala and the Sixty Mile property in the Yukon Territory.
ON BEHALF OF THE BOARD
Simon Ridgway, President & CEO
Investor relations: Ralph Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 79.6-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.