By Devika Patel
Knoxville, Tenn., May 3 - Redhawk Resources, Inc. announced that it took in C$4.01 million in a non-brokered private placement of units. The deal priced for C$4.03 million April 23.
The company sold 11,462,860 units at C$0.35 apiece.
Each unit will consist of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.50 for two years.
Proceeds will be used for a district wide drill program testing coincident geologic, geochemical and geophysical targets.
Based in Vancouver, B.C., Redhawk is a mineral explorer.
| Issuer: | Redhawk Resources, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$4,012,001
|
| Units: | 11,462,860
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | April 23
|
| Settlement date: | May 3
|
| Stock symbol: | TSX Venture: RDK
|
| Stock price: | C$0.35 at close April 23
|
| Market capitalization: | C$31.9 million
|
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