Radisson Mining Resources Inc. (TSXV: RDS) (OTCQX: RMRDF) has closed a C$57,159,400 private placement with Agnico Eagle Mines Limited, according to a company statement.

Agnico Eagle purchased 53,420,000 units at C$1.07 per unit. Each unit consists of one Class A common share and one-half of a common share purchase warrant, exercisable at C$1.39 per share for 60 months. Following the transaction, Agnico Eagle holds approximately 10.45% of Radisson's issued and outstanding common shares on a non-diluted basis and approximately 14.90% on a partially diluted basis.

Radisson said the proceeds will fund an advanced underground exploration program at its 100%-owned O'Brien Gold Project in the Abitibi region of Quebec, including development of an access ramp and related underground and surface mine infrastructure. A separate 140,000-metre step-out drill program continues, funded from existing cash.

The placement was completed on a non-brokered basis, with no commissions or finder's fees paid. Securities issued are subject to a hold period expiring January 2, 2027. The transaction remains subject to final acceptance by the TSX Venture Exchange.

An investor rights agreement between the two companies was executed concurrently with the closing of the placement.