By Devika Patel
Knoxville, Tenn., May 15 - Redhawk Resources, Inc. announced that it plans to raise C$2.58 million in a non-brokered private placement of units.
The company will sell 5,733,000 units at C$0.45 apiece.
Each unit will consist of one share and one non-transferable warrant. Each warrant is exercisable at C$0.65 for two years.
Proceeds will be used for the continuing development of the Copper Creek project in Arizona and for general working capital.
Based in Vancouver, B.C., Redhawk is a mineral exploration company.
| Issuer: | Redhawk Resources, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,579,850
|
| Units: | 5,733,000
|
| Price: | C$0.45
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered
|
| Pricing date: | May 15
|
| Stock symbol: | TSX Venture: RDK
|
| Stock price: | C$0.465 at close May 14
|
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