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Radisson Mining Raises C$57.16 Million from a Private Placement of Share Units to Agnico Eagle

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Radisson Mining Resources (RDS.V) closed a private placement of units to Agnico Eagle Mines (AEM.TO, AEM), raising C$57.16 million, it said Tuesday.

Agnico Eagle purchased 53.42-million share units priced at C$1.07 apiece, in the placement. Each unit consists of a share and one half of a five-year warrant to buy a share for C$1.39.

Agnico now has a 10.45% stake in Radisson on a non-diluted basis and about 14.9% on a partially-diluted basis.

Proceeds will fund the start of an advanced underground exploration program at Radisson's O'Brien Gold project in the Abitibi region of Quebec, it said.

Shares of Radisson last traded Monday, closing down C$0.04, or 3.3%, to C$1,.19 on the TSX Venture Exchange.

Price: $1.19, Change: $-0.04, Percent Change: -3.25%

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