Deal with Liberty Metals conducted alongside C$4 million public sale
By Devika Patel
Knoxville, Tenn., March 17 - Red Eagle Mining Corp. said it will raise up to C$1.15 million in a non-brokered private placement of stock with Liberty Metals & Mining Holdings LLC.
The company will sell up to 3,495,392 shares at C$0.33 each. The price per share is a 13.16% discount to the March 14 closing share price of C$0.38.
The company also plans a C$4 million public sale of shares at the same price with a 15% greenshoe. The public offering will be conducted by a syndicate of underwriters led by Haywood Securities Inc. and including National Bank Financial Inc. and PI Financial Corp.
Settlement is expected April 8.
Proceeds will be used for permitting and a Definitive Feasibility Study for the San Ramon Gold Deposit and for working capital purposes.
Red Eagle is a gold exploration and development company based in Vancouver, B.C.
| Issuer: | Red Eagle Mining Corp.
|
| Issue: | Common shares
|
| Amount: | C$1,153,479 (maximum)
|
| Shares: | 3,495,392 (maximum)
|
| Price: | C$0.33
|
| Warrants: | No
|
| Investor: | Liberty Metals & Mining Holdings LLC
|
| Pricing date: | March 17
|
| Settlement date: | April 8
|
| Stock symbol: | TSX Venture: RD
|
| Stock price: | C$0.38 at close March 14
|
| Market capitalization: | C$22.88 million
|
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