Radisson Mining Confirms Issuance of Shares for Debtadmin
Radisson Mining Resources Inc., announces the issuance of 238,806 Class A Shares at $0.335 per share in settlement of debt obligations owed to Dale M. Hendrick of $80,000 following the receipt of a final letter of approval by the TSX Venture Exchange (the “TSXV”). These obligations were incurred under a technical consulting arrangement with Mr. Hendrick. Mr. Hendrick is the Chairman of the Board of Directors of Radisson Mining Resources Inc. The last closing price for Radisson Mining Resources Inc. Class A Shares on the TSXV was $0.150 per share. The Class A Shares are subject to a holding period of four months following their issue.
ABOUT RADISSON MINING:
Radisson Mining is a Quebec-based exploration company, with offices in Rouyn-Noranda, Quebec and Toronto, Ontario, specializing in the discovery of gold, molybdenum and base metal deposits. The Company has an interest in thirteen properties in northwestern Quebec and two properties in northwestern Ontario. The main asset of Radisson, the O’Brien / Kewagama property, contains the former O’Brien Mine, the highest grade and the most important gold producer in the Cadillac Mining Camp when it was producing from the early 1930s to the mid 1950s. Radisson now has established a new zone, the 36 East Zone, 2,500 ft. east of the old producing zone of the O’Brien Mine, with comparable high grades of gold. The Company has recently been carrying on an advanced exploration program on this property, but now has ceased this program as a result of signing the LOI with Aurizon Mines. In its 43-101 report, Scott Wilson RPA opined, “there is excellent potential to increase the Zone 36 East resources above the 2,000 Level and to discover new resources further at depth and along strike further to the east”. Radisson also has entered into a JV on its highly prospective Massicotte gold project in the prolific Abitibi Greenstone Belt also in northwestern Quebec.
Contacts: Radisson Mining Resources Inc. Kenneth G. Murton, B.Comm. President and Chief Executive Officer 416-920-2748
Radisson Mining Resources Inc. Donald Lacasse, Eng. Vice President, CFO and Corporative Secretary 819-797-0606 email@example.com
Source: Radisson Mining Resources Inc.