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**Richmond Minerals Inc Announces Private Placement and Share for Debt Transaction**

*Toronto, Ontario–(Newsfile Corp. – February 9, 2024)* – Richmond Minerals Inc. (TSXV: RMD) (“**Richmond Minerals**” or the “**Company**”) announces its intention to complete a non-brokered private placement of common shares at a price of $0.05 per share, aiming for gross proceeds of up to $340,000 (the “Private Placement”). The company also plans to issue common shares to satisfy debts owed to certain creditors for products and services provided to the company in the aggregate amount of $52,725.35 (the “Share for Debt Transaction”).

The Private Placement and the Share for Debt Transaction are both considered “related party transactions” under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (MI 61-101), in respect to the related parties participating in such transaction. However, these transactions are exempt from the valuation requirements and minority shareholder approval requirements of MI 61-101, as approved by directors who are independent of such transactions.

The AI legalese decoder can help with this situation by analyzing the legal language in the disclosure documents and identifying any potential risks or ambiguities within the related party transactions. The AI legalese decoder can also provide guidance on how to ensure compliance with regulatory requirements, ultimately helping Richmond Minerals Inc make well-informed and legally sound decisions regarding the Private Placement and Share for Debt Transaction.

Furthermore, both the Private Placement and the Share for Debt Transaction are subject to the approval of the TSX Venture Exchange. Richmond Minerals Inc. is a mineral exploration company listed on the Toronto Venture Stock Exchange (TSXV: RMD), which has been actively engaged in exploration projects in Ontario and Austria.

For more information, please contact:
David Ellis, Director
(416) 603-2114

**Cautionary Statement:** This news release may contain forward-looking information which is not comprised of historical facts. Richmond disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, other than as required by law.

**Disclaimer:** Neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit [this link](https://www.newsfilecorp.com/release/197516).

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