New Issue: Redishred wraps C$4.9 million total stock placement, five-year line of credit

By Devika Patel

Knoxville, Tenn., Dec. 23 - Redishred Capital Corp. said it settled a C$900,000 stock placement and a C$4 million five-year revolving line of credit.

The company sold 6,000,044 common shares at C$0.15 per share. Insiders invested C$450,000.

The company issued 3 million warrants with the stock sale and 1 million bonus warrants with the line of credit.

Redishred, based in Halifax, N.S., is a capital pool company.

Issuer:	Redishred Capital Corp.
Issue:	Common stock, revolving line of credit
Amount:	C$4.9 million
Warrants:	4 million
Settlement date:	Dec. 23
Stock symbol:	TSX Venture: KUT.P
Stock price:	C$0.09 at close Dec. 23
Market capitalization:	C$689 million
Shares
Amount:	C$900,000
Shares:	6,000,044
Price:	C$0.15
Warrants:	3 million
Line of credit
Amount:	C$4 million
Maturity:	Five years
Warrants:	1 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.