VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 6, 2014) - Radius Gold Inc. (TSX VENTURE:RDU)(RDUFF) announces that as a result of its exercise of previously acquired private placement warrants, it has acquired direct ownership of 3,000,000 common shares ("Shares") in Medgold Resources Corp. ("Medgold"), such shares representing 7.2% of Medgold's outstanding common shares. The Shares were issued at a price of $0.11 per Share, for a total purchase price of $330,000.
As a result of this transaction, Radius Gold directly owns 8,000,000 common shares of Medgold, which represents 19.1% of Medgold's outstanding common shares. Radius also owns warrants (the "Warrants") to purchase an additional 2,000,000 common shares of Medgold. Assuming the exercise of the Warrants in full, Radius would own a total of 10,000,000 common shares, which would represent 25.1% of the issued and outstanding common shares of Medgold on a partially diluted basis. However, the Warrants have a restriction on exercise such that Radius may only exercise at any given time the number of Warrants that will not result in Radius owning 20% or more of Medgold's outstanding common shares
This will be top of the risers board on Monday. A good RNS and this share has the potential to multibag. As pointed out below, LEG has significant investments which should raise the price beyond the initial list price; get in while you can for a bargain.
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