By Sheri Kasprzak
New York, March 20 - Redcorp Ventures Ltd. said it intends to raise up to C$5.8 million in a private placement of flow-through and non flow-through shares.
The deal includes up to 7,692,308 flow-through shares at C$0.39 each and up to 8,484,848 non flow-through shares at C$0.33 each.
Octagon Capital Corp. is the placement agent.
Proceeds will be used for exploration on the company's mineral properties in British Columbia. The rest will be used for working capital.
Based in Vancouver, B.C., Redcorp is a mineral exploration company focused on projects in British Columbia and Portugal.
| Issuer: | Redcorp Ventures Ltd.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$5.8 million (maximum)
|
| Placement agent: | Octagon Capital Corp.
|
| Pricing date: | March 20
|
| Stock symbol: | Toronto: RDV
|
| Stock price: | C$0.415 at close March 20
|
|
|
| Flow-through shares
|
| Shares: | 7,692,308
|
| Price: | C$0.39
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 8,484,848
|
| Price: | C$0.33
|
| Warrants: | No
|
|
|
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