Radius Gold Inc. has closed its previously announced non-brokered private placement, issuing 10,400,000 units at a price of $0.12 per unit to generate gross proceeds of $1,248,000.

Each unit comprises one common share and one warrant, entitling the holder to purchase an additional common share at $0.20 for one year following the closing. The company paid finder’s fees consisting of $23,760 in cash and 198,000 warrants with identical terms to the unit warrants. Securities issued in the placement are subject to a resale restriction until December 28, 2026, and the financing remains subject to final approval by the TSX Venture Exchange.

Proceeds from the private placement are earmarked to advance exploration programs at the Tierra Roja copper project and Jonco silver project in Peru, as well as for general working capital purposes.

The financing supports ongoing operational efforts at Tierra Roja, where Radius has advanced permitting and exploration. Radius has submitted an application for Authorization to Initiate Exploration Activities to the Gerencia Regional de Energía y Minas of Arequipa for the copper project.

Read the full announcement: Radius Gold Completes $1.2 Million Private Placement Financing