Non-brokered deal's proceeds earmarked for district drilling program
By Devika Patel
Knoxville, Tenn., Oct. 17 - Redhawk Resources, Inc. said it settled a C$2.61 million non-brokered private placement of stock. The deal priced for C$2.6 million on Oct. 4.
The company sold 10.42 million common shares at C$0.25 apiece. The price per share is a 19.36% discount to C$0.31, the closing share price on Oct. 3.
Proceeds will be used for a new district drilling program at the Copper Creek project and for working capital.
Origin Merchant Securities Inc. was paid a cash finder's fee and received 420,000 finder's warrants, which are each exercisable at C$0.35 until Oct. 16, 2015.
Based in Vancouver, B.C., Redhawk is a copper explorer.
| Issuer: | Redhawk Resources, Inc.
|
| Issue: | Common shares
|
| Amount: | C$2,605,000
|
| Shares: | 10.42 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 17
|
| Stock symbol: | Toronto: RDK
|
| Stock price: | C$0.31 at close Oct. 3
|
| Market capitalization: | C$38.98 million
|
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