Radius Gold Inc.

Published : December 03rd, 2011

Radius Gold Announces Shareholder Approval for Spin-Out

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Keywords :   Canada | Fortuna | Gold | Guatemala | Iron | Market | Nicaragua | Silver |
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News Release

December 2, 2011
 
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Radius Gold Announces Shareholder Approval for Spin-Out 

Vancouver, Canada:  Radius Gold Inc. (TSX-V: RDU) is pleased to announce that Radius shareholders have approved the plan of arrangement involving the spin-out of Radius�s assets in the Yukon to Rackla Metals Inc. (�Rackla�) as announced by Radius on May 27 and July 27, 2011 (the �Transaction�).  The application to the British Columbia Supreme Court for the final order is expected to take place on December 5, 2011 and the Transaction is expected to close on December 8, 2011.  A summary of the key dates for the Transaction are outlined below, subject to final approval from the TSX Venture Exchange (the �TSX-V�):

<!--[if !supportLists]-->        Monday, December 5, 2011 � the last day to acquire Radius shares on the TSX-V and still receive Rackla shares and Rackla warrants upon closing of the Transaction. 

<!--[if !supportLists]-->      Thursday, December 8, 2011 � the Transaction closes.  Radius shareholders of record as at 12:01 a.m. on December 8, 2011 will be entitled to receive Rackla shares and Rackla warrants as set out below.

<!--[if !supportLists]-->     Friday, December 9, 2011 � the trading of Rackla shares and Rackla warrants is expected to commence on the TSX-V under the trading symbols RAK and RAK.WT, respectively.

Pursuant to the Transaction, Radius shareholders of record reflected as at 12:01 a.m. on December 8, 2011 on the register of shareholders maintained by Radius�s registrar and transfer agent, will receive one Rackla share and one Rackla warrant in exchange for every three Radius shares held on said date.

About Radius

Radius has been exploring for gold in Latin America for nearly a decade.  It has assembled interests in a portfolio of promising gold projects throughout the region, including carried stakes in two small-scale developing gold projects, one in Guatemala being developed by Dan Kappes of Kappes Cassiday and one in Nicaragua, and a number of 100% owned exploration plays, including the HB property in Guatemala.  The Company also holds a large land position in the Yukon Territory which is the subject of the proposed spin out.

For further information on Radius and its holdings, please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com).

ON BEHALF OF THE BOARD

�Simon Ridgway�
Simon Ridgway,
President and CEO

Investor relations:  Jaclyn Ruptash / Ralph Rushton
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 86.6-million

 

 

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statement

This news release includes certain forward-looking statements or information that involve inherent risk and uncertainty affecting the business of Radius. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding plans for the completion of the proposed Transaction, the structure of the plan of arrangement and other future plans and objectives of Radius are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Radius� plans or expectations include Radius� ability to obtain approval of the TSX Venture Exchange, the Supreme Court of British Columbia and general economic, market or business conditions, regulatory changes and other risks detailed herein and from time to time in the filings made by Radius. with securities regulators.
   
Radius Gold | Fortuna Silver Mines | Focus Ventures | Iron Creek Capital | Western Pacific Resources | Emerick Resources | Wesgold Minerals

 
 


Data and Statistics for these countries : Canada | Guatemala | Nicaragua | All
Gold and Silver Prices for these countries : Canada | Guatemala | Nicaragua | All

Radius Gold Inc.

DEVELOPMENT STAGE
CODE : RDU.V
ISIN : CA7504681007
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Radius Gold is a gold exploration company based in Canada.

Radius Gold holds various exploration projects in Guatemala, in Nicaragua and in Peru.

Its main asset in development is TAMBOR in Guatemala and its main exploration properties are EL PAVON, TREBOL and LA PATRIOTA in Nicaragua, BANDERAS and HB in Guatemala, 60 MILE in Canada, TLACOLULA in Mexico and RUBI PROJECT in Peru.

Radius Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 17.3 millions as of today (US$ 13.9 millions, € 12.1 millions).

Its stock quote reached its highest recent level on November 21, 2003 at CA$ 2.03, and its lowest recent point on December 05, 2008 at CA$ 0.04.

Radius Gold has 86 675 617 shares outstanding.

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Nominations of Radius Gold Inc.
5/8/2007Appoints New VP Exploration
Project news of Radius Gold Inc.
8/31/2012sells Interest in Guatemala Gold Property
8/14/2012Radius Gold closes sale of Nicaraguan Projects to B2Gold
5/9/2011(Banderas)Provides Update on Eastern Guatemala Gold/Silver District
3/19/2008(San Pedro) Options Its San Pedro Gold Project to Vannessa Ventures
2/28/2008(Estrella De Oro) Provides an Update on its Nicaragua Exploration Programs
2/11/2008(Tambor)Metallurgical Tests on Tambor Sample Achieve Gold Recoveries...
10/22/2007(Tambor)Tambor Exploration Adit Returns Additional Intercept of 65.6...
9/6/2007(Tambor)Tambor Exploration Adit Returns 74.5g/t Gold over 3.4m
7/18/2007Exploration Adit at Radius's Tambor Gold Project Intersects ...
3/27/2007(Tambor)Begins Underground Exploration at Tambor
Corporate news of Radius Gold Inc.
6/14/2016Radius Gold Provides Property and Investments Update
5/11/2016Radius Gold Comments on Media Reports of Temporary Suspensio...
4/28/2016Radius Gold Announces Intention to Terminate SEC Reporting O...
2/1/2016Radius Gold Provides Update on Operations
4/23/2015Obtains Shareholder Approval of Proposed Change of Business
4/16/2015Focus Completes Sale of Royalty on Bayovar 12 Phosphate Proj...
4/16/2015Radius Completes Purchase of Royalty on Bayovar 12 Phosphate...
3/26/2015Early Warning Report
3/10/2015Focus Accelerates Purchase of 70% of JPQ, Owners of Bayovar ...
3/10/2015Radius Gold Acquires Option on Margarita Silver Property, Me...
2/25/2015Radius Gold provides update on proposed Change of Business
1/7/2015Radius Gold Proposes Change of Business to Investment Issuer
1/7/2015IIROC Trading Halt - RDU
11/6/2014Early Warning Report
9/2/2014Radius Commences Drilling at Blue Hill Gold Project, Idaho
7/14/2014Radius Options Blue Hill Gold Project, Idaho From Otis Gold ...
10/8/2013Begins Drilling at Santa Brigida Silver-Gold Project, Mexico
5/24/2012Extends Warrants
12/3/2011Radius Gold Announces Shareholder Approval for Spin-Out
7/13/2011Defines Anomalous Au-Hg-Sb-As-Tl in Soil/Stream Sediment Sam...
7/7/2011Completes $3.66 Million Private Placement
6/6/2011Drilling has commenced at Radius' Sixty Mile Project, Yukon ...
5/27/2011Plans Spin Out of Yukon Assets
5/16/2011Samples 58.26 g/t Au and 1,937 g/t Ag over 5.1 m at Pino Zon...
4/12/2011Exploration Underway at Radius' Sixty Mile Project, Yukon Te...
11/1/2010Exercises Option on Sixty Mile Claims, Yukon
5/9/2008Starts Drilling in Nicaragua
4/7/2008 Provides an Exploration Update
11/14/2007 Acquires Sediment-Hosted Gold Project in Peru
10/17/2007Update on Nicaragua Exploration Programs
9/25/2007Commences Exploration at the Rubi gold - silver Property, Pe...
8/30/2007President, Simon Ridgway, Interviewed by WallSt.net
8/28/2007signs option to acquire the Rubi gold - silver property, Per...
5/29/2007announces initial sampling results from its Trébol property,...
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TSX-V (RDU.V)FRANKFURT (RUG.F)
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