By Sheri Kasprzak
New York, Sept. 30 - Redhawk Resources, Inc. said it has wrapped an oversubscribed private placement for C$2,575,050.
The company sold 17,167,000 units at C$0.15 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.30 each for two years.
The deal was first announced Aug. 4 as a C$2.55 million offering of up to 17 million units under the same terms.
Proceeds will be used to acquire the Copper Creek property, a copper project in Arizona. The acquisition is expected to cost C$1.6 million.
The proceeds not used to pay for the acquisition will be used for exploration and other activities on the property.
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$2,575,050
|
| Units: | 17,167,000
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Pricing date: | Aug. 4
|
| Settlement date: | Sept. 30
|
| Stock price: | C$0.19 at close Aug. 4
|
| Stock price: | C$0.345 at close Sept. 30
|
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