Brokered offering with C$3 million greenshoe will finance development
By Devika Patel
Knoxville, Tenn., Nov. 23 - Redhawk Resources, Inc. said it will sell 25.65 million common shares at C$0.78 apiece in a private placement.
The company plans to take in C$20.01 million by selling the shares at a 10.35% discount to the Nov. 22 closing share price of C$0.87.
The deal will be conducted by a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. The agents have a C$3 million greenshoe.
Settlement is expected Dec. 8
Proceeds will be used to develop the Copper Creek Property and for general working capital purposes.
Based in Vancouver, B.C., Redhawk is a mineral explorer.
| Issuer: | Redhawk Resources, Inc.
|
| Issue: | Common shares
|
| Amount: | C$20,007,000
|
| Greenshoe: | C$3,001,050
|
| Units: | 25.65 million
|
| Price: | C$0.78
|
| Warrants: | No
|
| Agent: | Macquarie Capital Markets Canada Ltd. (lead)
|
| Pricing date: | Nov. 23
|
| Settlement date: | Dec. 8
|
| Stock symbol: | TSX Venture: RDK
|
| Stock price: | C$0.87 at close Nov. 22
|
| Market capitalization: | C$92.61 million
|
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