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ROUYN-NORANDA, Quebec, June 17, 2020 (GLOBE NEWSWIRE) — Radisson Mining Resources Inc. (“Radisson” or the “Company“) (TSX.V: RDS, OTC: RMRDF) is pleased to announce the promotion of Rahul Paul to President from Chief Financial Officer effective June 17, 2020. He will report to Mario Bouchard, Radisson’s Chief Executive Officer and Director. Denis Lachance, Chairman of the Board of Directors of Radisson Mining Resources, will assume the role of Chief Financial Officer on an interim basis.
“We are very happy with Rahul’s significant contribution since he joined the Company in November 2019. His involvement has benefited Radisson in several areas including strategic planning, financial management, capital allocation and marketing. His efforts have been instrumental in getting Radisson to a position of strength. Our confidence in the potential of the O’Brien project continues to increase with each round of drilling and we see significant upside to be unlocked for our shareholders. We believe that Rahul’s promotion to President will allow Radisson to better leverage on his industry knowledge and capital markets relationships to take Radisson to the next level. I look forward to working with Rahul in his new role,” commented Mario Bouchard, Chief Executive Officer and Director of Radisson Mining Resources.
“Over the last several months, I have enjoyed working with Mario and the rest of the Radisson team. The more I learn about the O’Brien project, the more convinced I am about the opportunity to unlock significant value for our shareholders. Mario’s dedication, hard work and leadership have been instrumental in Radisson’s success so far. His extensive experience and strong relationships will continue to be a significant asset for Radisson. I am excited to be taking on additional responsibilities and look forward to working closely with Mario in my new role.” commented Rahul Paul, President of Radisson Mining Resources.
Results of AGM
Radisson is pleased to announce the results of its Annual General Meeting of Shareholders (“AGM”) held in Rouyn-Noranda, Qc on June 12, 2020.
Shareholders voted in favour of all items of business, including the election of each director nominee. A total of 80,506,161 votes were represented in the meeting amounting to 42.36% of the issued common class A share shares as of the record date. All votes were submitted by proxy with the following tabulation of these votes:
| Directors | Tabulation of Votes in Favour submitted by Proxy | Tabulation of Votes Withheld submitted by Proxy |
| Denis Lachance | 80,216,809 (99.99%) | 5,500 (0.01%) |
| Mario Bouchard | 80,209,757 (99.98%) | 12,552 (0.02%) |
| Luc Simoneau | 80,218,809 (99.99%) | 3,500 (0.01%) |
| Jean Dion | 80,218,809 (99.99%) | 3,500 (0.01%) |
| Réjean Gourde | 80,218,809 (99.99%) | 3,500 (0.01%) |
| Tony Brisson | 80,218,809 (99.99%) | 3,500 (0.01%) |
| Denis Bois | 80,216,057 (99.99%) | 6,253 (0.01%) |
In addition, shareholders voted 100% in favour to re-appoint Raymond Chabot Grant Thornton as Independant auditor of Radisson.
Grant of stock options
On June 12th 2020, the Board of Directors awarded a total of 2,675,000 stock options to directors, officers and three employees of the company. Pursuant to terms of the stock options plan each option grants the holder thereof the right to purchase one common class A share at a price of $ 0.255 until June 12th, 2025. Following the grant of stock options and pursuant to terms of the stock options plan, there are currently 11,825,000 stock options outstanding.
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
Mario Bouchard
Chief Executive Officer, Director
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Hubert Parent-Bouchard
Director, Corporate development
819-763-9969
[email protected]
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.
Forward-Looking Statements
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.
